France says US banks plan to leave Brexit Britain – business live – The Guardian

The President of the European Council (Donald Tusk) poured cold water on the idea, propounded by Boris Johnson, that Britain could potentially strike a better deal with the EU post-Brexit, claiming that a hard exit is the only offer on the table. Sapin, the French finance minister, then stated this morning that some US banks are already looking to move their operations out of London in favour of the continent.

Unsurprisingly this kind of rhetoric hasn’t been welcomed by the pound, which has fallen half a percent against the dollar and 0.1% against the euro. While this keeps sterling above the week’s (and, indeed, decades’) lows, that fact will provide mere crumbs of comfort for the currency.