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BlackRock's Thiel says long pound but nervous over Brexit talks
March 29, 2017 / 9:55 AM / 8 months ago

BlackRock's Thiel says long pound but nervous over Brexit talks

LONDON, March 29 (Reuters) - The head of global bonds at the world’s largest asset manager BlackRock said on Wednesday that he remains invested in the British pound but has concerns over the timeline for Brexit negotiations.

British Prime Minister Theresa May will file formal Brexit divorce papers on Wednesday, starting a two year negotiation over the terms of divorce with the European Union.

“We are still positive on sterling but there are still...risks,” Scott Thiel said at an event in London, adding that the possibility of a “hard” Brexit where there is no agreement had increased.

Thiel also said he likes the euro as an investment but has bought so-called put options on the single currency to protect against French election risk. (Reporting by Dhara Ranasinghe, Writing by Abhinav Ramnarayan; Editing by John Geddie)

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