Theresa May’s government has won the approval to trigger Article 50 from the House of Commons with 498-114 majority votes and now in a concession to some members of the parliament, Ms. May’s government will release a Brexit White Paper that would discuss the government’s negotiating stance. However, Ms. May has already discussed the government’s approach in her speech on 17th January and it is far from clear what additional information the document might reveal. Nevertheless, all traders should keep eyes open for the release as new and potential information can add volatility in the pound. Below are the highlights from Ms. May’s January speech,

• Britain will not seek continued single market membership with the EU.
• On the customs union, the UK wants to leave the common external tariff but reach a new, unspecific customs agreement.
• UK will make contributions to the EU budget but that won’t be vast.
• UK parliament will vote on the final deal with EU before it comes into force. Both the house will be allowed to vote.
• UK government wants a phased process of implementation of the deal.
• UK will leave the EU without an exit deal if a good one can’t be reached.
• The country won’t provide a unilateral guarantee to residing EU nationals.
• The UK will control the numbers of immigrants arriving from the single market union.
• The common travel area between the UK and Ireland will remain as it is.
• The country would continue its security co-operations with the EU.

The pound is currently trading at 1.268 against the dollar.