- The team at Deutsche Bank has been one of the more notable bears on the pound in recent years, but Prime Minster Theresa May's call for snap elections changes the outlook.
- The end result of the election, says Deutsche, will be a smoother, more drawn out Brexit. "This sequenced approach materially reduces the 'crash risk' of Brexit negotiations," thus also reducing the downside risks for U.K. growth.
- The pound continues its surge today, now up 2.2% vs. the dollar at $1.2841.
- ETFs: FXB, EWU, GBB, EWUS, FKU, DXPS, DBUK, QGBR, HEWU