The German lender still favors a general election as the most likely outcome.
The chances of Britain crashing out of the European Union without a deal on April 12 have increased to one in four, according to Deutsche Bank.
The bank raised its estimate for the chances of a no-deal Brexit to 25 percent from 20 percent and is targeting an exchange rate of 90 pence per euro. On Monday, the euro was buying 85.61 pence. In its note, Deutsche said new elections should not be viewed positively and not just because of the potential for a left-wing Labour government.
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