Selling Volatility a Winner FX Strategy, Says Juckes
European stocks slipped, with oil and gas shares leading losses after BP Plc’s profit missed estimates. Japan’s yen surged to the strongest level in more than a week against the dollar as investors looked for signals on the magnitude of any economic stimulus, while the British pound fell. BP fell as much as 2.6 percent in early London trading, the biggest drag on the Stoxx Europe 600 Index. The yen rose against all major peers, extending gains after Finance Minister Taro Aso said the government has yet to decide on the size of a fiscal spending package. That sent Japanese equities to a 1.4 percent loss, and a gauge of the dollar’s strength headed for its biggest decline in almost a month. Sterling slid on a report that Bank of England policy maker Martin Weale now favors immediate stimulus for the U.K. economy. Societe Generale Global Strategist Kit Juckes discusses with Bloomberg's Francine Lacqua on "The Pulse."
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