by Marc Chandler
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Chandler on CNBC's Trading Block show to discuss how the market is positioned for the UK referendum. The markets are strongly anticipating the UK to vote to stay in the EU, even though polls remain very tight. Given that leveraged participants and speculators have rallied sterling more than nine cents from last week's lows. - Click to enlarge
I had the privilege to be on CNBC’s Trading Block show to discuss how the market is positioned for the UK referendum. The markets are strongly anticipating the UK to vote to stay in the EU, even though polls remain very tight.
Given that leveraged participants and speculators have rallied sterling more than nine cents from last week’s lows. This makes us wary of the risk that profit-taking pressures emerge if the referendum goes according to market expectations.
The markets are ill-prepared for a vote to leave the EU. A dramatic move in the market in such circumstances could spur officials action.
Click here to see the video clip.
He has been covering the global capital markets in one fashion or another for more than 30 years, working at economic consulting firms and global investment banks. After 14 years as the global head of currency strategy for Brown Brothers Harriman, Chandler joined Bannockburn Global Forex, as a managing partner and chief markets strategist as of October 1, 2018.
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