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		</div><p>The pound slumped to its lowest point for more than three months after reports that Theresa May is heading for a &#8220;hard Brexit&#8221;.</p>
<p>Before making a slight recovery today, Sterling fell to below 1.20 dollars &#8211; its lowest point since October&#8217;s &#8220;flash crash&#8221;.</p>
<p>The drop comes ahead of the Prime Minister&#8217;s announcement on Tuesday regarding her approach to Brexit negotiations.</p>
<p>Various Sunday newspapers said Mrs May was heading towards a departure from the single market.<br />
Sterling&#8217;s slump in the Asian markets also came after Chancellor Philip Hammond suggested ministers could slash corporation tax rates if Briton was frozen out of the single market.</p>
<p>Mr Hammond told a German newspaper that the Government would do &#8220;whatever we have to&#8221; to ensure UK businesses would stay competitive.</p>
<p>Downing Street would not be drawn on reports Mrs May would announce plans to withdraw from the single market and the European customs union during her speech at London&#8217;s Lancaster House.</p>
<p>But The Sunday Telegraph quoted a government source as saying: &#8220;She&#8217;s gone for the full works. People will know when she said &#8216;Brexit means Brexit&#8217;, she really meant it.&#8221;</p>
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