BOE's Reference to Brexit Fails to Spur Pound Volatility: Chart

Investors in the pound are ignoring warnings that a lack of progress on Brexit talks would stoke volatility. The cost of insuring against outsized moves in sterling -- as measured by so-called butterfly options -- has declined this week even after the Bank of England said that the U.K.’s economic outlook hinges on the outcome of Brexit negotiations. European Union leaders are set to assess whether trade talks with the U.K. can begin at a summit that starts Dec. 14.

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