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Private banks see weaker GBP but unchanged global outlook following UK election

Following a relatively unexpected Tory defeat in the recent UK snap elections, private banks expect to see a weaker GBP and a short-term boost to UK equities, though the global market outlook remains largely unaffected. GBPUSD: Private banks eye 1.20-1.25 level The GBPUSD exchange rate shed 1.5% on the morning of the election results. While it has since stabilised, private…

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