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JPMorgan: 80% chance of a Brexit trade deal

FILE PHOTO: A sign outside the headquarters of JP Morgan Chase & Co in New York, September 19, 2013. REUTERS/Mike Segar

LONDON (Reuters) - JPMorgan has raised its odds of a Brexit trade deal to 80%, up from two-thirds, as negotiators from Britain and the European Union try to clinch an accord before the end of the year.

“Since the summer we have put the odds of a deal at about two-thirds, and no-deal at a third,” JPMorgan said in a note to clients on Tuesday.

“Given the recent newsflow, the likelihood of a deal is clearly growing, and hence we shift our assessment to 80-20 in favour of a deal,” it said.

Reporting by Guy Faulconbridge; editing by Michael Holden

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