Gilets Jaunes Come to Brexit Britain’s Rescue
(Bloomberg Opinion) -- The pound has been pummeled after Prime Minister Theresa May delayed the parliamentary vote on her Brexit withdrawal bill. But the ongoing weakness of sterling is not an assured one-way bet. A lot of the bad news may well have been factored in, a point that Macquarie analysts have repeated in assessing that the pound is undervalued. So-called currency pairs like the pound-dollar and pound-euro are by definition relative bets; for one side to weaken it means the other strengthens. And recent headwinds for both the ...
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