While hardly coming as much of a a surprise following the weekend's news that Theresa May would call for a "clean and hard Brexit", confirmation received moments ago from both the Telegraph, FT and Bloomberg that on Tuesday May will indeed declare that Britain is making a "clean break" from the EU and will not seek a deal that leaves the country "half in and half out", has send the sterling lower by some 25 pips, because even though the news is not incremental, as Bloomberg notes quoting a trader, "Algos Trade Off Keyword Flagged in Speech."

May's office has said she will announce 12 key objectives for the negotiations, which will include gaining full control over immigration, restoring power over lawmaking to the U.K. Parliament and ending the jurisdiction of the European Court of Justice over British laws, preserving the Union, maintaining workers' rights and signing major free trade deals.