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Article 50 delay 'worst' option, says JP Morgan

Jan 10, 2019 - City A.M.

STERLING would surge by at least four per cent if parliament approves Prime Minister Theresa May's Brexit proposals in a planned vote next week, JP Morgan said.

The bank's asset management wing also warned about the potential impact of extending Article 50, something the government has ruled out. Karen Ward, the fund manager's EMEA chief market strategist, said avoiding a no-deal Brexit would allow the Bank of England to raise interest rates, pushing sterling upwards.

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