Pound Rallies As May Vows To Put Final Brexit Deal To Parliamentary Vote

By Sara Sjolin Markets MarketWatch Pulse

The pound rallied on Tuesday as U.K. Prime Minister Theresa May said said she'll put the terms of the country's exit from the EU to a parliamentary vote. In a closely watched speech on May's plans for exiting the European Union, the prime minister also confirmed the U.K. will leave the single market, but said she'll try to get an ambitious trade deal with the bloc. "We will continue to be reliable partners, willing allies and close friends. We want to buy your goods, sell you ours, trade with you as freely as possible, and work with one another to make sure we are all safer, more secure and more prosperous through continued friendship," she said. Sterling jumped almost 2% to an intraday high of $1.2279, up from $1.2046 on Monday. Against the euro, the pound rose to €1.1454, compared with €1.1363 on Monday.

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