Brexit is a nightmare for currency traders
London (CNN Business)Trying to get a handle on where the British pound is headed? Good luck with that.
UK lawmakers are widely expected to reject the divorce deal with the European Union negotiated by Prime Minister Theresa May on Tuesday. The only real question is the margin of the loss.
Jochen Stanzl, an analyst at CMC Markets, said the pound could weaken in the immediate aftermath of a defeat to $1.24 from its current perch above $1.28. That would put the currency close to its lowest level since early 2017.
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