Placeholder Image

Subtitles section Play video

  • A lot of the supposedly smart money was really

  • quite defensively positioned going into the Brexit vote

  • I think people were really unsure about what the result was going to be

  • and so a lot of hedge funds basically took all risks off the table

  • and really didn't really express any real view on either way the result could go

  • I think since the result has come out

  • there has really been a sharp derating of the prospects

  • of British economy and the value of the pound against the dollar in the eyes of a lot of hedge funds and other trading houses

  • I think that what we've seen is that a lot of people are now thinking forward to where this crisis might lead

  • and looking at the current political unrest or at least political uncertainty inside Westminster in the UK

  • have started to really think about how long this crisis could go on for

  • I think the position of being negative on the outlook of British economy in the coming months

  • is actually something now of a consensus between most hedge funds managers

  • I think a lot of people are expressing that view in some way or another

  • The actual debate going on is what impact Britain's vote

  • to leave European Union is going to have on the Euro zone

  • and how could this crisis, which at the moment is relatively contained

  • relatively focused on Britain and British-exposed stocks and the pound

  • how is this going to spread into Europe?

  • Is it going spread into Europe and are we going to see

  • a re-emergence of doubts over the integrity of the European Union and the Eurozone, and the European debt crisis

A lot of the supposedly smart money was really

Subtitles and vocabulary

Click the word to look it up Click the word to find further inforamtion about it

B1 FinancialTimes hedge crisis british pound european

Betting against the British pound

  • 21 4
    Kristi Yang posted on 2016/06/28
Video vocabulary