Wells Fargo sees pound upside

Sterling could move higher against the dollar, even if the December 11 UK parliamentary vote on Brexit is rejected

Houses of Parliament from above
Parliamentary vote: markets price in Theresa May’s Brexit deal being rejected, with expectation of second vote

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Sterling could have scope for recovery, even if UK prime minster Theresa May’s Brexit deal is voted down by parliament on December 11, as markets have already priced in this outcome,” says Erik Nelson, a currency strategist at Wells Fargo.

The upside continues to persist because the markets do not view a failed vote as equivalent to a no-deal divorce. Instead, pricing indicates a second attempt at the vote or even

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