Wells Fargo: UK Conservative leadership race will hit sterling
Hardline victor could weaken pound after Conservative party vote, says Erik Nelson
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The more hardline the next Conservative leader in the UK is perceived to be, the weaker sterling is likely to get, says Erik Nelson, macro strategist at Wells Fargo.
The selection of the successor to outgoing prime minister Theresa May opened formally on June 13, with 313 Conservative Members of Parliament each casting a vote before two final candidates are put to the party’s 160,000 members.
Seven MPs are
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