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Pound Falling to Parity Is an Idea That’s Starting to Take Hold

  • BlackRock’s Harrison echoes Morgan Stanley’s pound-at-$1 risk
  • Risk of no-deal Brexit rises with negotiations in deadlock
A stack of British one pound coins sit on an arrangement of US dollar banknotes in this arranged photograph in London, U.K., on Monday, July 22, 2019. The pound may fall to parity with the dollar on a no-deal Brexit, according to Morgan Stanley.
Photographer: Jason Alden/Bloomberg

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Suddenly, the idea of pound parity seems less far-fetched as the risk grows that Britain may split away from the European Union without a deal.