Pound Traders in Flash-Crash Flashback as Tory Conference Starts
- Sterling weakened following May’s speeches in 2016 and 2017
- Tories have habit of saying things markets don’t like: Allianz
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Pound bulls have good reason to be nervous this week.
Sterling traders are anxiously watching the Conservative Party conference after U.K. Prime Minister Theresa May’s speeches at the previous two annual gatherings prompted declines. With May facing potential leadership threats and her Brexit stance under intense scrutiny, investors fear another white-knuckle ride.