Bearish bets on the pound through options that expire in three months rose to an all-time high as they captured the June 23 “Brexit” referendum for first time and as Brussels attacks are seen boosting the likelihood of the U.K. voting to leave the European Union. The volatility skew, a gauge of market positioning and sentiment, flattened sharply to trade at 430 basis points in favor of pound put options, the most bearish sentiment since Bloomberg began compiling data.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE