The Pound Sterling fell half a cent against the dollar on what Brexit minister David Davis described as a move taking Britain to "the threshold of the most important negotiation for this country for a generation".
The European Commission's Brexit negotiator Michel Barnier has said they must be wrapped up by October 2018 to give the EU and national parliaments time to ratify the deal.
Britain is one of the oldest and largest members of the 28-nation bloc, and its departure has raised fears for the EU's future as eurosceptic movements gain support across the continent. Once the European Union is formally notified that the United Kingdom intends to leave the bloc, a two-year countdown will begin.
The committee's chairman, Sir Bill Cash, summed up the mood among many Brexit-backing Tories when he said: "We really don't owe anything to the European Union".
The EU has baulked at her demands, saying they amount to "having your cake and eating it".
Cherry said, "Smaller businesses want to make sure that easy access to the European Union single market and the right talent feature prominently in the forthcoming negotiations".
Once prime minister Theresa May officially invokes Article 50 next week, she is expected to make a statement to the House of Commons.
The prime minister heads into the European Union negotiations with her premiership, Britain's economy and even the United Kingdom's viability as a unified country all on the line. There was no further detail about exactly what the letter would say at this point. All that is happening is that Britain is following the terms set down in the Lisbon Treaty to trigger formal exit talks.
Jeroen Dijsselbloem, president of the finance ministers of the 19-country euro currency area, said he wanted "realism" from May's government.
Mr Tusk has previously said he expects to release an initial response to the Article 50 notification within 48 hours, and an extraordinary summit of the remaining 27 European Union member states is due to be called within four to six weeks.
Scotland's First Minister Nicola Sturgeon wants her country to hold a referendum on Scottish independence immediately after Britain's exit from the EU. Her first stop was Wales, and she was also expected to visit sites in Scotland, Northern Ireland and England in the coming days.
Notification of the historic step will come in the form of a letter from the Prime Minister to Mr Tusk, though Downing Street did not make clear whether this would be a physical letter handed to the European Council president by a United Kingdom representative or might be sent electronically.