Global Markets Focused on Pound and Brexit, Says Stubbs
Pound Could Mirror The amount wagered on the pound falling to 1980s levels has more than doubled during the past three months. With barely a week until Britons vote on membership of the European Union, polls increasingly suggest an exit is a real possibility. Investors are responding by bolstering their protection against sterling declines, and have bet 25 billion pounds ($35 billion) this year on options that would profit if the currency tumbled to $1.35 or lower after the June 23 vote. JPMorgan Global Market Strategist David Stubbs discusses with "On the Move" hosts Guy Johnson in London and Matt Miller in Berlin.
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07:42 - Stefan Schneider, chief German economist at Deutsche Bank, discusses the outcome of the German election, his outlook for the economy and how much risk he sees in the Brexit negotiation for German industry. He speaks on "Bloomberg Daybreak: Europe." (Source: Bloomberg)