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HSBC: The pound is now 'the de facto official opposition to the government’

The pound has become a political football that currency traders are using to try and punish the government into softening proposed Brexit terms, according to HSBC. HSBC's chief FX strategist David Bloom says in a note circulated on Friday that the pound has now become a victim of "FX vigilantes" who are expressing their objection to government policy by selling off the pound.
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