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Kay Van-Petersen
Saxo's global macro strategist Kay Van-Petersen considers the repercussions of US president Donald Trump’s escalating trade war with China.
Squawk / 24 June 2016 at 7:35 GMT
CEO, Asia Pacific / Saxo Bank Group
OK, now David Cameron has resigned, with an excellent speech, it will be interesting to see what the EU does. UK will wait a few months before invoking article 50 and the timetable commencing for exit. In that time, there will be a new PM. It will have to be someone that is committed to getting the best deal. Boris ?

Also, will the EU now try and be vindictive and punish Britain, or try and be constructive and woo Britain. There will be people in both camps for sure, "we can't reward them and make leaving easy" vs they are a great trade partner and we don't want to ruin that trade with reciprocal tariffs.

If GBP/USD ends up over 1.40 at NY close, and FTSE recovers to close over 6,000 then the first hurdle will be cleared and financial armageddon avoided. Stay tuned for more.


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