Pound steady ahead of Theresa May’s Brexit speech – business live

The pound hovered above $1.35 ahead of the Prime Minister’s speech in Florence. Economists said a positive response to the speech from EU officials could further strengthen the pound, extending its recent rally

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The pound is steady this morning ahead of Theresa May’s highly anticipated Brexit speech in Florence.

Whether the pound can continue its recent rebound is likely to depend on how markets receive Prime Minister Theresa May’s speech in Florence later today, when she is expected to put forward the UK government’s latest proposals to move the currently stalled talks with the EU.

She is expected to make proposals on the rights of EU citizens, as well as making a budget proposal that will ensure that there is no budget shortfall for the remainder of the current EU budget period, which goes up to 2020.

Related: Theresa May to ask EU to be ‘creative’ about Brexit in Florence speech

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