Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
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