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Expand chart
Data: Investing.com; Chart: Axios Visuals

As the Brexit saga has twisted and turned this year, traders look to have taken their bets on how it will unfold to a new forum: the Euro/British pound currency pair.

The latest: As Prime Minister Boris Johnson has been foiled in his stated attempts to take the U.K. out of the eurozone by any means necessary, traders have pushed the pound to its strongest level in five months against the euro.

Why it matters: Both the pound and euro would be weaker if Britain left the EU with no deal, but the pound would be expected to see more selling, which helped drag the currency to its weakest since 1985 against the dollar last month.

  • The consistent buying of the pound and selling of the euro — a nearly 10% move in the pair — as uncertainty has grown about whether Johnson's plan will succeed indicates "investors have priced-out no-deal Brexit," strategists at Bank of America Merrill Lynch wrote in a recent note to clients.

Go deeper: British pound remains strong despite Brexit drama

Go deeper

Ina Fried, author of Login
14 mins ago - Economy & Business

The pandemic isn't slowing tech

Illustration: Eniola Odetunde/Axios

Thursday's deluge of Big Tech earnings reports showed one thing pretty clearly: COVID-19 may be bad in all sorts of ways, but it's not slowing down the largest tech companies. If anything, it's helping some companies, like Amazon and Apple.

Yes, but: With the pandemic once again worsening in the U.S. and Europe, it's not clear how long the tech industry's winning streak can last.

Texas early voting surpasses 2016's total turnout

Early voting in Austin earlier this month. Photo: Sergio Flores/Getty Images

Texas' early and mail-in voting totals for the 2020 election have surpassed the state's total voter turnout in 2016, with 9,009,850 ballots already cast compared to 8,969,226 in the last presidential cycle.

Why it matters: The state's 38 Electoral College votes are in play — and could deliver a knockout blow for Joe Biden over President Trump — despite the fact that it hasn't backed a Democrat for president since 1976.

Wall Street braces for more turbulence ahead of Election Day

Illustration: Eniola Odetunde/Axios

Wall Street is digging in for a potentially rocky period as Election Day gets closer.

Why it matters: Investors are facing a "three-headed monster," Brian Belski, chief investment strategist at BMO Capital Markets, tells Axios — a worsening pandemic, an economic stimulus package in limbo, and an imminent election.