<table><tr><th>From:</th><th>Richard Kahn</th></tr><tr><td>Sent:</td><td>Thursday, July 28, 2016 4:52 PM</td></tr><tr><td>To:</td><td>Jeffrey E.</td></tr><tr><td>Subject:</td><td>The pound could bottom out at $1.20 if the BOE cuts rates next week</td></tr></table>

if you agree with story shall i have DB price some risk reversal options?

http://www.marketwatch.com/story/the-pound-could-bottom-out-at-120-if-the-boe-cuts-rates-next-week-2016-07-28

Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
New York, NY 10022
████████████████
████████████████