Brexit: a Bigger Issue for Europe Than for the U.K?
The pound jumped as much as 1.5 percent against the dollar within seconds on Tuesday, as a gauge of expected volatility surged before the U.K. votes in just over two weeks on whether to remain in the European Union. Expectations for swings in sterling over the coming month climbed to a fresh seven-year high before the June 23 referendum. Investors and analysts were left bemused after the sudden move, with some speculating that a mistyped transaction had triggered automatic orders to sell or buy currencies to avoid losses. Jefferies International Chief European Economist David Owen discusses which geopolitical risks may affect Fed policy with Bloomberg's Anna Edwards in London and Manus Cranny in Dubai on "Countdown."