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Great Britain

A Wild Post-Brexit Ride for U.K. Banks

That was quick. The British pound has already given up almost all its postelection gains, and a rally in U.K. bank shares has cooled. Boris Johnson’s decision to make political brinkmanship a central pillar of his strategy to “get Brexit done” sets investors up for a wild ride.

The U.K. prime minister on Tuesday proposed making it illegal to extend a deadline currently set at the end of next year for agreeing a new trade deal with the European Union. This kind of cliff-edge can help force politicians to find a compromise,...

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