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: Why sterling’s bounce was so tepid — Boris Johnson’s replacement faces an economy at risk of recession

The political uncertainty is, if not over, at least reduced: U.K. Prime Minister Boris Johnson announced he is resigning.

The pound GBPUSD did rise, moving to as high as $1.2024 from $1.1926 on Wednesday. The U.K. currency GBPEUR also advanced versus the euro.

“A quick resolution to the political impasse would mean policy varying less and…

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