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Pound Could Slump to Parity on a Hard Brexit, BNY Mellon Says

  • Dhar recommends long positions in FTSE 100 as Brexit hedge
  • Cable may rise 5% from 1.25 level if U.K. secures a deal
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Sterling could tumble to parity with both the dollar and the euro if the U.K. crashes out of the European Union without a deal, according to Shamik Dhar, chief economist at BNY Mellon Investment Management.