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Much like Italian rout, markets may not price Brexit risks until they hit

Reuters  |  LONDON 

By Tommy Wilkes and Tom FinnLONDON (Reuters) - A catastrophic, messy Brexit might be looming for Britain next year but judging by how the pound is trading, one would hardly know it. Increasingly, it seems a risk is not a risk for financial markets until it actually hits.The calm in sterling at such a juncture is leading some to draw parallels with Italy's mini-crisis where 2-1/2 months of relative calm following March 4 elections exploded onto markets at the end of May, prompting panicky last-minute selling.The pound, which crashed to 31-year lows against the dollar immediately after ...

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First Published: Thu, June 14 2018. 23:24 IST