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Prime Minister Boris Johnson's December 12, 2019 triumph sent Cable through the roof, from a 1.29$ handle to over 1.35$ in one day, the highest level since the spring of 2018.
Part of that astonishing rise was due to markets anticipating the end of the deadlock that had been paralyzing the British Parliament for a year, and part to the conviction that - thanks to a substantial majority of 80+ - Johnson would have pivoted away from a harder form of Brexit, and embraced a closer relationship with the EU