The pound fluctuated between gains and losses after U.K. Prime Minister Boris Johnson said the nation was heading towards no deal with the European Union, while still holding out room for more negotiations this year. Sterling erased gains of as much as 0.4%, to fall 0.3%, before trading little changed at $1.2914 as of 1:00 p.m. […] The “limited pound sell off suggests market participants see comments from Boris Johnson as mainly political posturing at this stage,” said Lee Hardman, a foreign-exchange strategist at MUFG Bank. […] That’s why the U.K.’s recent threats to pull out of talks have only caused relatively mild dips in the pound. […] The country’s equities have underperformed global peers since the Brexit referendum, and are trading at historically low relative valuations.
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