Sterling’s dramatic moves on and around U.K. election night may offer a playbook for 2020. The pound was headed for its worst week in two years against the dollar on Friday, upending the bull-run after the exit poll that predicted the Conservatives’ decisive win. An election night rally, sparked by hopes for a clearer political outlook, was soon left looking over-exuberant as Prime Minister Boris Johnson hardened his Brexit rhetoric. International events added to the whiplash, as enthusiasm for phase one of a U.S.-China trade deal quickly turned to concern over a lack of detail. December’s pattern could act as a ... (full story)