Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

The British pound rose by the most in nearly 2 years on Wednesday after lawmakers voted down the latest Brexit proposal — an amendment to leave the EU with no agreement in place.

The big picture: As the deadline has closed in, investors have increased rather than decreased bullish bets on the pound. The CFTC reported last week speculators had cut net short positions on sterling by half since September 2018 and reduced positions by about $1.5 billion since the week of Dec. 21.

Even as the dollar has risen against major currencies around the globe so far this year, sterling has gained 4% on the greenback.

Where it stands: The value of the pound sank after the Brexit vote in June 2016 from around $1.50 to $1.32 almost immediately and has ebbed and flowed since, now hovering right around that level.

The bottom line: It may simply be that traders got it right when Britain voted to leave in the first place and nothing has materially changed since then.

Go deeper: Everything else you need to know about Brexit

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Breaking down the Tesla obsession

Illustration: Sarah Grillo/Axios

Tesla is the company of the moment — the prime exemplar of just about any big and important trend that you might care about.

Why it matters: Almost every reader of finance and business news will have at least one strongly-held opinion about Tesla. What you might not realize is just how widely those opinions range, and the degree to which they map onto much broader views of the world.

Gallup: Party preference swings dramatically in favor of Democrats

Photo: Jim Watson/AFP via Getty Images

Americans' political party preferences have swung sharply from a 2-point Republican advantage in January to an 11-point Democratic advantage in July, according to Gallup's monthly averages of telephone polls in 2020.

The big picture: The dramatic shift is more a product of fewer people identifying as Republican or Republican-leaning (down 8% since January) than gains among those who identify as Democratic or Democratic-leaning (up 5%).

Nancy Pelosi: "I yearn for other Republican presidents"

House Speaker Nancy Pelosi (D-Calif.) called on President Trump Thursday to exercise "the full power" of the Defense Production Act to meet coronavirus equipment needs and accused him of engaging in a "massive dereliction of duty" by ignoring science during the pandemic.

What she's saying: "I yearn for other Republican presidents," Pelosi said at a press conference. "While we may have disagreed on many points, but at least we had a shared commitment to the governance of our country."