tuesday night: May's crushing loss on Tuesday night and looming no-confidence vote triggered political upheaval that meant investors paused to assess their next options, putting pressure on UK-focused exchange-traded funds, according to The Independent. A Tokyo-traded FTSE 100 ETF was down about one percent on Wednesday. Sterling sunk to trading at 1.2855 on the dollar early on Wednesday, having steadied after a tumultuous overnight session. While the margin of May's loss was a surprise, the defeat itself was something the market had been pricing in for a long time and it appears that participants covered shorts in the pound after the vote, said Yukio Ishizuki, senior currency strategist at Daiwa Securities. In the longer run it may boil down to two scenarios a no-deal Brexit or no Brexit at all. The market is now factoring in the March Brexit deadline being extended.
(news.financializer.com). As
reported in the news.
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