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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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The one and only Brexit deal may not pass. Photo: Tolga Akmen/AFP/Getty Images

The British pound rallied going into the weekend, rising to its highest level against the dollar since Nov. 22.

Between the lines: That's odd considering the spate of bad news for British Prime Minister Theresa May's one and only Brexit deal. It seems, however, that the market is not pricing a better Brexit agreement, but no Brexit at all, says Bannockburn Global Forex Chief Market Strategist Marc Chandler.

What they're saying: "This bullish price action suggests market participants may be looking beyond the January 15 vote in the House of Commons," Chandler wrote in a Sunday note to clients.

  • PredictIt.org odds have just a 20% chance that the UK leaves the EU on March 29. 
  • Reuters reported Friday that billionaire Peter Hargreaves and hedge fund manager Crispin Odey expect Britain to stay in the EU. The two were among the largest financial backers of the campaign for Brexit.
  • Odey, who runs Odey Asset Management, said he is now positioning for the pound to strengthen.

Watch this space: CFTC data shows speculators are still widely betting on the British pound to fall in value, but new data hasn't been reported since Dec. 21 because of the U.S. government shutdown.

Go deeper

House passes $1.9 trillion COVID relief package

Photo: Screenshot via C-SPAN

The House approved President Biden's $1.9 trillion COVID relief package on a 219-212 vote early Saturday morning, sending it to the Senate for a possible rewrite before it gets to Biden's desk.

The big picture: The vote was a critical first step for the package, which includes $1,400 cash payments for many Americans, a national vaccination program, ramped-up COVID testing and contact tracing, state and local funding and money to help schools reopen.

10 hours ago - Health

Biden says it's "not the time to relax" after touring vaccination site

President Biden speaking after visiting a FEMA Covid-19 vaccination facility in Houston on Feb. 26. Photo: Mandel Ngan/AFP via Getty Images

President Biden said Friday that "it's not the time to relax" coronavirus mitigation efforts and warned that the number of cases and hospitalizations could rise again as new variants of the virus emerge.

Why it matters: Biden, who made the remarks after touring a vaccination site in Houston, echoed CDC director Rochelle Walensky, who said earlier on Friday that while the U.S. has seen a recent drop in cases and hospitalizations, "these declines follow the highest peak we have experienced in the pandemic."

Updated 11 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Annelise Capossela/Axios

  1. Health: Most COVID-19 survivors can weather risk of reinfection, study says — "Twindemic" averted as flu reports plummet amid coronavirus crisis
  2. Vaccine: FDA advisory panel endorses J&J COVID vaccine for emergency use — About 20% of U.S. adults have received first vaccine dose, White House says — New data reignites the debate over coronavirus vaccine strategy.
  3. Economy: What's really going on with the labor market.
  4. Local: All adult Minnesotans will likely be eligible for COVID-19 vaccine by summer — Another wealthy Florida community receives special access to COVID-19 vaccine.
  5. Sports: Poll weighs impact of athlete vaccination.

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