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Need to Know: There’s more than just short-term danger lurking in earnings season

With three sunrises to go before we get our mitts on U.S. nonfarm payrolls, look to the Old World for your Tuesday excitement.

In the wee hours, the mighty British quid hit levels not seen since the mid-1980s, when a movie ticket cost $2.75 and a gallon of gas $1.88. Investors are waking up to the fact that this Brexit thing could be a real page-turner.

Must admit, I thought the post EURef lows were in but clearly not- impressive swan dive by the pound GBPUSD breaks the 1.2795 July low. pic.twitter.com/t74nPDlvMM

— David Jones (@JonesTheMarkets) October 4, 2016

”There’s nothing here to soften the outlook for sterling at all,” says Société Générale’s Kit Juckes, who expects the pound will hit $1.23 by next March.

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