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		</div><p>The pound was trading flat on Tuesday morning as currency traders brace for the crunch Parliamentary vote on Theresa May’s Brexit deal.</p>
<p>Sterling was down marginally versus the US dollar at 1.286 and up 0.2% against the euro at 1.123.</p>
<p>It comes as the Government faces near certain defeat in Parliament, with MPs set to emphatically reject the EU Withdrawal Agreement by a hefty margin.</p>
<p>Mrs May could face a defeat of historic proportions, raising the prospect of a no-deal Brexit or the departure not happening at all.</p>
<p>Neil Wilson, chief market analyst at Markets.com, said that whatever the outcome, traders should expect “considerable volatility” as news flow from Westminster dictates price action.</p>
<p>He added: “The question is whether the imminent disorder is fully priced – it seems unlikely that the market really reflects where we are about to go on Brexit, albeit the lie of the land is more favourable for pound bulls longer term, i.e. a higher chance of a no-Brexit or very soft Brexit.</p>
<p>“Extension of Article 50 seems likely if this deal fails and Jeremy Corbyn manages to force an election. But similarly, the no-deal risks rise by the day with March 29 just a couple of months away. As previously argued, the either of the extremes is still the most likely outcome.”</p>
<p>Number crunchers at ING have outlined a series of scenarios for the pound following the vote.</p>
<p>In the unlikely event that Mrs May’s deal passes, sterling will rally to 1.38 US dollars, according to the bank.</p>
<p>If a general election is called, which is also unlikely, the pound would plummet to 1.20 US dollars and if a Norway-type arrangement is agreed, it would rise to 1.35 US dollars.</p>
<p>A second referendum would see the British currency jump to 1.40 US dollars.</p>
<p>However, all three latter scenarios require an extension of Article 50.</p>
<p>If a no deal hard Brexit comes to pass, then ING reckons sterling would tank to 1.12 US dollars and hit parity with the euro.</p>
<p> ;</p>
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