The pound is on course for its biggest one-day fall in 2018 after Theresa May said Brexit negotiations with the EU have reached an `impasse´Salzburg humiliation leaves May at Brexit crossroadsGlobal markets brush off trade war fearsUK government borrowing jumps in AugustUber in talks to buy Deliveroo, Bloomberg reports 3.21pm BST Equity investors on both sides of the Atlantic are in positive mood this afternoon.The FTSE 100 is outperforming all major indices, up 1.6% or 117 points at 7,485. As many of the company´s included in the index have significant earnings abroad, the UK´s leading index tends to benefit from a weaker pound. Related: Theresa May statement: `I expect respect from the EU` - live 2.37pm BST The bell has rung on Wall Street and the Dow Jones has opened at a record high of 26,753.The S&P 500 has also hit a new record high of 2,937. 2.33pm BST The pound is on course for its biggest one day drop this year against the dollar.The pound plummeted following Mrs May´s speech, trading down 1.3% versus the US dollar at 1.31.Against the euro, sterling was down 1% at 1.11. pic.twitter.com/cQHyuoyu3p 2.13pm BST Sterling is lower as Theresa May delivers her statement on Brexit.The Prime Minister in defiant tone says Brexit talks have stalled because the EU has rejected the UK´s proposals without offering alternatives. 1.52pm BST Statement might be delayed 1.31pm BST The pound´s fortunes have not been helped by the news that Theresa May will make a live announcement from Downing Street at 1.45pm.Sterling is down 0.9% at $1.3153 and 0.7% at EUR1.1180.Statement confirmed for 1.45 live inside Number 10 12.38pm BST Craig Erlam, an analyst at the currency firm Oanda, says the fall in the pound could be much worse: The pound is paring its gains on Friday after the EU rejected Theresa May´s Chequers proposal, casting doubt on a compromise being found despite the UK being only months from leaving the block. Clearly traders don´t view this as too significant a s ...
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