The pound

The pound should rise to $1.35, from $1.3093 currently, if the U.K. leaves the European Union under Prime Minister Boris Johnson's withdrawal agreement by the January 31 deadline, UBS Global Wealth Management says. However, further gains will be capped as the U.K. and the EU begin talks for a trade deal,their analysts say in a note. "These talks will probably be nearly as drawn-out and fractious as their predecessors, and the prospect of the U.K. reverting to a WTO trade relationship with the EU will loom large once again, with the next critical deadline possibly arriving by July."