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Brexit's back: double-whammy for sterling after virus shock
Last week, at talks to negotiate a post-Brexit trade agreement, Britain’s government reiterated its pledge to walk away from European Union without a deal if one cannot be reached by the end of the year. And unlike in 2019 when lawmakers were able to block a no-deal Brexit, Prime Minister Boris Johnson’s large parliamentary majority makes this a real possibility. Yet, with focus squarely on COVID-19, the pound barely batted an eyelid. Britain being cast adrift from its biggest trade partner is widely expected to inflict huge damage on an economy already predicted by the UK budget watchdog to post its worst ... (full story)