Brexit delay request sends pound reeling

LONDON, Mar 21 (AFP): The pound fell sharply on Wednesday after Prime Minister Theresa May announced Britain was seeking a delay to its exit from the European Union until June 30, while investors awaited the US Federal Reserve's interest rate call.

"The pound's Wednesday only got worse after the confirmation that Theresa May is seeking a short delay from the EU, one that arguably does not give the government enough time to get through a sterling-positive Brexit deal," Spreadex analyst Connor Campbell told the news agency.

"It appears that, despite the various votes highlighting MPs unwilling to leave the EU without a deal, that kind of disastrous exit is still very much on the table."

The pound lost about half a pence in the space of roughly 10 minutes after May announced the delay, falling to $1.3147, bringing its loss for the day to around one per cent.