Pound options traders remarkably sanguine despite Brexit uncertainty

Bets on sterling swings have fallen to an almost three-month low even after UK lawmakers rejected Theresa May’s withdrawal plan and told her to renegotiate it with the European Union, which has warned it won’t budge. Given the risk of the whole deal collapsing, investors may reconsider positions that have driven volatility lower, according to SEB AB.

While the UK currency has gained about 2.5 per cent this year amid hope the two sides will eventually find a way forward, BlackRock Inc. has warned investors may be too complacent about the risk of an unfavourable outcome. May has promised to