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Sterling was up by 0.65 per cent against the single currency to €1.13, and also weakened against the dollar to $1.21, wiping gains made on Monday. The UK's two years of negotiations
could start as early as Tuesday after the Brexit bill cleared parliament. Critics predicted the start of Britain's formal exit out of the bloc could hit the pound. The imminent move by
the Prime Minister was intially shrugged off by markets, before hitting sterling early on Tuesday. MAY: IT'S TIME TO GET ON WITH LEAVING THE EUROPEAN UNION RELATED ARTICLES Bloomberg
The pound lost ground against the euro in Tuesday Bloomberg The pound jumped against the euro on Monday before Tuesday's losses The currency weakened significantly following last
year's referendum vote and subsequent interest rate cut by the Bank of England. Threats of a second Scottish referendum have more recently added to the uncertainty, to keep
Britain's exchange rate under pressure. But if the UK economy continues its strong performance, sterling could gradually start to rise. Rising inflation could also mean the Bank of
England decides to raise interest rates earlier than expected, helping to boost the pound. RELATED ARTICLES MP DAVID DAVIS TALKS ABOUT THE POST-BREXIT CONTINGENCY PLAN Naeem Aslam, chief
market analyst at Think Markets, said: "Sterling has dropped like a rock and all the gains which we experienced yesterday are wiped off. "Traders have finally woken up to the
reality… if Theresa May triggers the article 50 as per plan, it will have negative impact on the currency. "The reason is that this spells only one thing for investors that she is
heading towards hard Brexit negotiations with an attitude that she has nothing to lose. "The biggest fear on the street is what will her EU partners will say and how they are going to
treat this matter given that Brexit is about to become a reality."