While a buoyant pound had been heading into the October EU summit trading on sentiment that a Brexit Withdrawal Agreement was almost done – GBP bulls may have to put the champagne back on ice. There's still a long way to go. It’s not a disaster for the pound if we don’t get an early Brexit deal, although it will undoubtedly raise questions over the stability of the UK government – and the degree of political risk premium that needs to be priced into GBP assets in the near-term. Indeed, the risks of a political miscalculation by the UK or EU – or some sort of negative turn in UK politics (DUP voting down the Tory ... (full story)