Pound Is 'Not Cheap' at Two-Year Low, Deutsche Bank's Saravelos Says

The video discusses the valuation of the British pound, particularly in the context of Brexit. It argues against the notion that the pound is cheap, emphasizing the stress a hard Brexit would impose on sterling valuations. The euro-sterling exchange rate is analyzed, noting that it is around fair value. The discussion includes trading strategies, suggesting that the pound should price in more hard Brexit risks, with a 50% chance of occurrence. The video concludes that the pound is not cheap enough at present.

What factors contribute to the perception that the pound is not cheap?

How does the speaker view the relationship between the euro and sterling?

What is the speaker's stance on trading the pound currently?

What are the implications of a hard Brexit on the pound according to the speaker?

What does the speaker suggest about the future pricing of euro sterling?