Diverging Brexit Scenarios Send Pound Down After Whipsaw Session
- The pound fell in Asian trading as investors started to weigh a worst-case Brexit after Prime Minister Theresa May’s plan was roundly defeated by U.K. lawmakers. Sterling weakened against most its Group-of-10 counterparts, while traders said flows were thin as most investors were staying on the sideline after Tuesday’s whipsaw session. While May is expected to survive a vote of no confidence that will take place on Wednesday, uncertainty over how she will put together a new deal is spurring risk aversion. “Tuesday night’s vote may have ...
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