How Much Further Could the Brexit-Bruised Pound Fall?
The pound approached the three-decade low set in the days following the Brexit referendum after U.K. Prime Minister Theresa May said she’ll begin the process of withdrawal from the European Union in the first quarter of 2017. Sterling dropped to the weakest level since July 6, the day it reached its 31-year low of $1.2798, and slipped against all of its 31 major peers. Hedge-fund data showed speculators raised bets that the currency would fall. May told delegates at her Conservative Party’s annual conference that she’ll curb immigration, stoking speculation the nation is headed toward a so-called hard Brexit. Stocks of U.K. exporters rose, boosted by the weaker currency. Societe Generale Global Head of Rates & FX Strategy Vincent Chaigneau discusses with Bloomberg's Francine Lacqua on "The Pulse."
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U.K.'s Blair Puts Brexit Reversal Chance at 30%
26:38 - Former U.K. Prime Minister Tony Blair talks about the prospect of a reversal of the U.K.'s decision to leave the European Union. He speaks on "Bloomberg Daybreak: Americas." (Source: Bloomberg)