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JPMorgan says narrow Brexit trade deal likely

FILE PHOTO: A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo

LONDON (Reuters) - JPMorgan said on Friday it continued to think that a Brexit trade deal was more likely than not, though the substance of any deal would be narrow and come with a cost for the United Kingdom.

“We continue to think ... that a deal looks more likely than not,” JPMorgan analyst Malcolm Barr said in a note to clients. “The cost of regulatory autonomy for the UK in terms of lost or more difficult access to EU markets looks set to be a high one.”

Reporting by Guy Faulconbridge; editing by Stephen Addison

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