let's get more with patrick armstrong.you look at pound, just today it actually rose to the highest level in a week versus the dollar. what comes next? patrick: it is going to move lower. the current account deficit in the u.k. is already unsustainable and anything -- thatr bates exacerbates it will lead to a lower pound. probably going to cut rates and a half measure, 25 basis points in july and in august. those lead to weaker sterling and you can justify save haven flows into the united states. i think you will can's -- see continued weakness. for the: is it better boe to cut rates than continue with the asset purchase? patrick: i think it will continue with the asset purchase . we are in a bit of a data void because no one knows how much of a hit to confidence has been. think you will have a more informed decision to make in august. i think it will show, i am ready, i know there has been a hit to confidence, and it is the start of a process for bank of england. francine: how do you see brexit playing out? it is hitting

william jackson and patrick armstrong. patrick, you stay with us. 7:18 in london.is to: 19 in hong kong. juliette saly has the business flash for us. >> investors in turkey are stealing themselves as local markets open. more than 200 people were killed in the unrest as forces loyal to the government gained control. around 6000 people, including military personnel, judges, and tutors, have been detained. purges and more are expected as president erdogan extent concentrate power. the turkish stock market has regained ground after its biggest drop since 2008. softbank will buy arm holdings 17 pounds per share in cash. the offer is a 43% premium to the closing price on friday. the japanese company said it would maintain arm's senior team and pledged to double its employee headcount in the u.k. the bank of england should implement an immediate interest rate cut in the wake of the brexit vote. that is the view of a monetary policy committee member. -- he also said the first rate cut should be supplemented by additional measures next month. companye's investment is consid