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Sterling traders not panicked yet by new Brexit brinkmanship
Britain may be heading for a no-deal Brexit in three months, but among traders in London the feeling so far is one of deja vu rather than a panicky rush to dump UK assets.For instance, exporters who would usually adjust currency hedges after a pound slump have seen those strategies upended by collapsing revenues. Coronavirus uncertainty could even force a change to the Dec. 31 deadline. “The market has become very jaded with the political process,” said Simon Manwaring, head of currencies trading at NatWest Markets, and “is looking for something more definitive” before clients hedge or take speculative ... (full story)
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