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And Another Thing...
Putting aside all jokes about the UK’s disappointment at losing their “dumbest electorate crown”, I’ll keep this brief because the world is still coming to terms with how the “experts” once again got it hopelessly wrong. So just to say yes, the FX market was very orderly yesterday as the results came in but (there’s always a ‘but’ remember), we are in no way out of the woods. For just as this was a eerie echo of Brexit, so too could market behaviour be in the coming months.

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