Pound Volatility Jumps as Traders Brace for May Speech: Chart

A one-week measure of anticipated price swings for the pound climbed to the highest in two months on news Prime Minister Theresa May will set out her Brexit vision in a speech on Tuesday. The U.K. currency has proved sensitive to May’s statements on the subject, tumbling following her speech at the Conservative Party conference in October and her first television interview of the new year. In both, the prime minister boosted speculation the U.K. is more likely to pursue an exit from the European Union that prioritizes immigration controls over single-market membership, spooking pound investors hoping for a less radical outcome.

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