norman lamont stays with us. t, they prepared to mark the 25th anniversary of black wednesday. we speak to the man who was chancellor. he is lord lamont. this is bloomberg. ♪ welcome back to our weekly brexit show. let's check in on markets. mark: the latest north korean missile launch to a large extent being shrugged off by markets. the stoxx 600 on track for a weekly increase of 1.7%, the most for two months. containing that trend of alternating between weekly losses and gains that started 8 weeks ago. sterling price remain supportive of further upside, having extended thursday's gain, the most in five months yesterday after boe suggest rates could be raised in coming months. 1.3450 was the one year high today according to bloomberg fx. risk reversal is on one-month, 22 basis points in favor of pound called, the highest since 2009 spread over two months. this is this chart. chart dynamics adjuster run on june3566, the high 27 last year. one year high today on track for a fourth weekly gain against the dollar, th

it crashed out of the european exchange rate mechanism under chancellor norman lamont, whose wife said and around the world as one of america's oldest and biggest banks files for bankruptcy. it plunged after the financial crisis. now, the brexit vote has left the pound down 11% against the dollar, and 15% against the euro. it's the uncertainty which makes people worry about the pounds future value. also, ultralow interest rates set by the bank of england, and faltering economic growth. big players had been betting against the pound — hedge funds which thrive on market upsets, but also pension schemes trying to protect investments against losses. and they like the euro, because economies using it are recovering. the pound fell, but has it reached the bottom? the pound fell, but has it reached the bottom ? it the pound fell, but has it reached the bottom? it has become a victory at —— victim of fear and rumour, and only when the uk's future is clear is it likely to settle down. well i've been speaking to lordjim o'neill — former chairman of goldman sachs and a government minister — for h