“With Boris Johnson widely expected to prevail, market attention has begun to turn to Parliament’s summer recess (July 25 to September 3), and the new PM’s likely diplomacy with EU capitals during that period,” says Zach Pandl at Goldman Sachs. “If Mr. Johnson were to turn mildly more conciliatory over the near-term as he seeks to find a path for a cooperative exit at the end of October, this could see EUR/GBP pull back from its local highs, this could see EUR/GBP pull back from its local highs.”
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