Got every man in here wishin im sara eisen welcome to Worldwide Exchange. And im wilfred frost. Throwback thursday. This is a good one. This is a good one. From spotify throughout the show. Do not sing well. Lets get to the market action. U. S. Equity futures right now, of course yesterday a muted response to Janet Yellens testimony and lack of fed decision keeping rates on hold of course. And slightly down end of the yesterday. Slightly down in the pre market. Worth noting that of course yesterday we saw a bounce back in european equities a bit of a if brexit relief rally. You might say today we are negative again across the rest of the world and dow called lover by lower by 52. We could be looking at the sixth day in a row of declines for u. S. Stocks after that late day selloff. Small declines. Small declines this morning. Ugly overnight. Lets show you the big Global Market action from what we saw in japan. Bank of japan deciding to hold policy unchanged. The dollar yen is the big mover. That is a strong yen and weak dollar. Looking at levels we havent seen in about two years. The yen spiking, japanese stocks plunging. In a news conference, the bank of japan governor Haruhiko Kuroda comment okay furthin commenting on further easing. Also saying the bank of japan is in close communication be the bank of england and other Central Banks ahead of next weeks eu referendum. Clearly some folks out there were expecting some kind of action from the bank of japan. Because there was marked disappointment in the market in the strengthening of the japanese yen. It was really a onetwo punch from the fed, that caution which sunk the dollar and the inaction by the bank of japan just kept the dollar moving and strengthening the yen. Some expected some further eases but it wasnt for definite. Started with the fed. Well sure but this is a big move. I dont think anyone expected the fed to act either. Markets pretty much outside of u. S. Equities globally really. And reacting in big fashion to these macro bits of news. The yen moving markets and major markets nikkei also trading lower today partly of course from contagion of asian markets lower. Fourth month low or euro stocks. Also worth quickly e dwelling on yellen mentioned brexit a factor for this months decision or lax of decision. And other banks around the world are talking to each other. Also somewhat reassuring they are talking about it. Makes it do seem like they have contingency plans and emergency measures in place. We dont know what impact it is going to have. And the other factor is oil has been under pressure. Switzerland central bank leaving its negative Interest Rate policy unchanged. Record low levels in policy meetings today. The Swiss National bank also citing the brexit vote, saying the vote may cause uncertainty and turbulence to increase. Everybody is in caution mode on this. They are indeed. Oil prices. Lets have a quick look at them. Five straight sessions of declines. Strong start to last week. Poor end to last week and poor start to this week. And were down 2 for the week as a whole. Another 1. 5 so 3. 5 for the week as a whole. 47. 3 for wti. Something to keep an eye on. The dollar was weak yesterday to the tune of 1 . Today we are also seeing the pound go back on a weaken trend. Yesterday it bounced back. Today it is soft again to the tune of. 3 . Gold prices, higher today up 2 on a decent push past 1300. And clearly in nervous mode. And lot of people are saying gold is the place to be for safety. Today looks like japanese yen is the place to be. There is nervousness and a growing realization that Central Banks are doing all they can. As evidenced by the fed yesterday. Janet yellen sounding very cautious, which was actually pretty different than how fed members, including herself, were sounding a few weeks ago when they are talking about the summer Interest Rate hike. The question is there is a shock from the brexit, what can be done about it . And you take the relatively hawkish meeting in april and through may and even in easterly june were still getting hawkish commentary and all of that looks like a million miles away now. I just wonder though. We get past brexit. July still a possibility. We can change our decision dprs month to month as long as the data is there. Otherwise what they said in april and may seems totally uncalled for. So i think there must be a hidden element of hawkishness there. Reaction to it. And a null slate of Economic Data today. Full slate of econom data today. Also look for current account figures for the First Quarter and the National Association of Home Builders monthly survey. In terms of earnings, kroger and rite aide will be reporting before the opening bell. Now an event thats been years in the making. Disney opens the gates today on its first theme park and resort in Mainland China in what the companys what is the companys Largest Overseas investment. Younes joins us from the opening of the shanghai disney. The wait to get into the park was two hours. And whats a very important day for disney. The ceo bob iger was presiding over a ceremony for grand opening. In his opening remarks was really stressing the importance of the relationship between disney and china. This is what he had to say. Today is a celebration of creativity and collaboration. Commitment and patience, a triumph of imagination and innovation. Together we have created an extraordinary destination. Here east meets west, the past meets the future and anything is possible for those who believe. And the u. S. President as well as the chinese president both sent congratulatory letters to disney for this park. Now this park has been years in the making. Five years of construction, 5. 5 billion of investment and now the day has arrived when disney can say its been able to deliver on one important strategy. And that is to have this park as a booster rocket for the overall business in china. Bob iger told me earlier hes hoping this park will really help to boost the businesses in other parts of the company, movie and retail, and it really could pay off, wilfred. 330 million people, according to disneys own estimates, who are in a three hour radius of this park by car or by train can afford to come here on vacation. So when you look at the numbers and the trends in china. If you believe that china is advancing in terms of its economy and Household Spending is becoming a bigger and bigger part of the overall economy, disney is well poised. Though i will say one thing wilfred. One thing in which they didnt comedy the chinese. Is that selfie sticks are banned. So people cannot use their selfie sticks. People are going to want to use them the most. Cruel and unfair. Either way, very exciting opening. Thank you very much for that report. Disney china. I was in hong kong last week and i was the only person without a selfie stick. I almost broke down and bought one. The battle continues. And now redstone and a former via com ceo are speaking out. Land dowdy joins us with more. Sumner redstone says he no longer trouss the board or feli felipe. Redstone writing i no longer trust philippe or those who support him. He doesnt think they are aking in the best interest of shareholders. And the decision to sell stake in Paramount Pictures as well as via coms stock performance. Redstones email as former via com ceo tom preston who was ousted a decade ago also had harsh words for management in the interview on cnbcs fast money. The whole soap opera has been a side show compared to the real story, which has been the fall of via com from grace essentially over the last several years. Have been really one of the leading Television Networking companies in the business. And now its fall on the a level below really any of its peers almost any metric. Plagued by all types of problems, including creative departures. Redstone is never one to want to sell anything. And while no ones floated the idea he would not take the ceo job if asked. Thank you very much for that. And still o come heen orren Worldwide Exchange. Just one week left to go in the britain goes to the polls on whether to leave the eu. Wolf youre promised one speed. But do you consistently get it . You do with comcast business. Its reliable. Just like kung pao fish. Thank you, ping. Reliably fast internet starts at 59. 95 a month. Comcast business. Built for business. In new york state, we believe tomorrow starts today. All across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. Like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. And in syracuse, where imagination is in production. Let us help grow your companys tomorrow today at business. Ny. Gov welcome back to Worldwide Exchange and good morning. The latest brexit betting odds, a 65 probability the brits vote to stay in the eu. The probability rising from 62 on wednesday. So slowly creeping back towards the remain. The remain camps edged back but certainly the general momentum the last couple of weeks and lot of people on wall street say go with the betting odds over the polls. Exactly right. Sticking with a theme of brexit, what are the key things to look out for . First up the pressure on cameron to resign. If he does the government is resolved but we do not get a fresh nationwide election. The Parliament Members remain the same. So it is a battle within the conservative party to be the new leader which could likely take a few months. Election rules mean this is not a simple populous vote. Second, watch for immediate and systemic financial contagion. The risk is low. Just matriarchi just. We havent seen too sharp a reaction in u. S. Risk assets so far. Third thick, the impact on uk and european growth. Negotiations will likely take anywhere from 2 to 7 years. This will likely reduce investment and with it growth. Finally, in the longer term watch for political reaction across the rest of europe. National front in france or afd in germany gain support domestically. Or does removing the uk allow the rest of the zone to move ahead without britain blocking it. Either way maintaining the pro eu status quo in german elections in 2017 would be key for the longterm future of the rest of the European Union. And i think that is the really key point for markets because obviously the uk is important with its economy but the euro zone is going to be the key question. And it is also important to distinguish between the eu and the your zone. Right. And the fact that there is not as much referendum pros for exiting the process for exiting the your zone. The referendum process presumably the same in the countries. But the southern count are yous for hem to vote. That would be a massive hit to their economies. Look at greece as weve said before. They accept very draconian terms rather than leaving because they know the dounz is much worse. If mer the fallout is focus on germany and france because it would be more plausible for them to leave. One place to look for initial reaction is gomldman sachs. If britain does vote the leave the eu next week. A note on wednesday, goldman analysts say if traders were to shed the pound and euro they will likely sweep up lower risk currency. The japanese yen, the swiss franc and the norwegian franc. And we are going talk more about that. The currency impact with Wolfgang Koester after the break. Welcome back. Washington all night talk a on this is over. Democrats trying to force voting on gun control. And the filibuster just ended a few hours ago . Yes, about 2 15 our time this morning. And while it was mostly democrats, there were a couple of republicans and one independent who joined. They are trying to figure out if washington can do something to prevent these types of mass shootings. The senate stand adjourned until 10 00 a. M. This morning. Democrats declared victory after speaking for more than 14 hours straight. Is this not a wake up call, is it not enough to convince us to act . One of the victims. Ro your colloquy. We dont want terrorists to be able to walk into a gun store and buy a gun and we dont want an innocent lawabiding citizen to be denied his Second Amendment rights because hes wrongly on the list with a bunch of terrorists. We still this filibuster led my chris murphy of connecticut, where emotions are still raw after the school shooting. Ask yourself what can you do to make sure that orlando or sandy hook never, ever happens again . The majority leader. Republican leaders agreed to two votes. Universal background checks for gun shows and Internet Sales and banning suspected terrorists on the no fly list from buying guns. We dont sell to strangers. We dont sell to criminals. We dont sell to mentally unstable people. So we wait to find out what the next step there is going to be. But we do know donald trump has said he wants to sit down with the nra to discuss this idea of a no fly no buy skplau the nra is open to that. And supported him. Thank you very much tracie. Just an update on the polls. According to the Washington Post abc news survey, 70 of americans do have a negative view of the republican president ial candidate, that includes more than half who felt strongly unfavorable. Hillary clinton also has a negative impression among the public. More negative than positive in fact but it is as 55 . Switching to brexit and the impact a leave vote would have, we turn to Wolfgang Koester from london. Ceo and chief currency strategist at fire app. Good morning to you. Good morning. Thank you for joining us. So far we continue to see a much bigger reaction in the pound every time we see polls move. Less of a reaction in the euro. Do you think that should change . Will the euro react if we see a wrex vote . Absolutely. I really believe that. Ive been spending quite a bit of time here in london my way to spain which has elections shortly and then off the o germany. If you see a brexit happening there is going to be nationalism all over. You are going to see it in the reflection in spanish votes and in germany and much more Significant Impact on the euro. Why havent we seen it that so far . How come the euro doesnt follow the pound down . Good question. Maybe when people are looking at polls versus bookies they are still seeing a high likelihood brexit will not happen. And that is whats in the market. Yes they are nervous. You do see a lot of corporates especially outside of the uk putting on brexit protecting themselves on the sterling. Euro they are not speculating. On the sterling they are actually prescootecting thoemss. What particular would you be looking a at right now . It is a very significant low against the yen. Against the u. S. Dollar while its been softening recently, its still above february lows. Right. People are at some point looking and saying maybe this is not going to happen but you are absolutely looking dollars number one. You are seeing activity against the franc. The flee into more safe haven currencies but you are going to start seeing it picking up in sterling euro. Everyone trying to figure what this means for equities and specifically gensz the british pound, the dollar, if we seed a big move lower. How much exposure is there to the uk . It is significant but not as significant as it is going to be against the euro. Obviously the uk, large trading partner with the u. S. , for u. S. Corporates. And if you have a sterling dproegs, that obviously means less rovens coming back to the united states. If you then all of a sudden believe nationalism is going to continue within europe you are going o see more isolationism and the depreciating in the euro. Also not good for u. S. Corporates. Wolfgang thank you. Wolfgang koester from london. Still to come todays top stories and get you caught up on all the market action. Good morning. Just one week from the crucial brexit vote. Central bankers around the globe are sounding off on the potential impact. And arrogant elitist. Via coms former ceo is calling the media firms current chief. More on the drama coming up. And sleeping, why the new trend may be better for your health. Its thursday, june 16, 2016 and you are watching Worldwide Exchange on cnbc. A good Throwback Thursday song to maybe the best group that ever came out the uk. Spice girls. Are they your Favorite Group from the uk . They are pretty epic. You cant compete with the beatles but spice girls pretty epic. Wilfred frost. Our very own spice girl here of course. Not sure as spice boy. Im not sure thats applicable. Lets show you the action in u. S. Equity futures after that late day selloff on wall street giving back some. The s p was up about a half percent last 30 minutes of the day went lower for wall street. S p futures down 6. 6. Nasdaq futures down 16. If these losses do hold were looking at the sixth day in a row of losses for u. S. Shares. As for the 10 year trz note yield, postjanet yellen, lower yields has been the theme. Easure yield, postjanet yellen, lower yields has been the theme. On the back of fed caution and this new view that they are certainly not in a rush to raise Interest Rates this summer. Well see what happens with brexit. Also a big Central Bank Decision overnight or lack of decision. The bank of japan deciding to keep policy steady despite Global Growth and inflation. The yen a massive move. Still significantly, yen strengthening because of lack of easing from the bank of japan. Japanese stocks plunging in response to. This as you can see some 3 weighing on the rest of the asian region. In the Conference Bank of japan governor kuroda commenting saying they will examine risks but wont hesitate to take additional measures to reach their 2 inflation target. Bank of japan is in close communication the other Central Banks ahead of the eu referendum. It is important to hear they are speaking with each other. We heard from others earlier. A big risk factor they are worried about. Action in europe has been negative as well. Following what we saw overnight in japan. The german dax down right now. Italy getting the brunt of the selling action. The banks have been really hammered lately ahead of the brexit vote on lower yields weve been seeing across the euro zone. Euro stoxx is at a 4 month low. Indeed. And big move in equities. Weve could be on track for a fifth session in a row but at least the u. S. Equity moves have been more muted than europe. Germany down some 6 other the last week. Broader markets. Oil prices also sliding. Now down another 1. 3 . 47. 4 for wti. Moving away from 50. It is something to keep an eye on. Dollar was soft down 0. 3 . Recently weve seen Dollar Strength in terms of safe haven trades. Yesterday that dovish out of janet yellen saw it give back some gabs. The pound is soft again by about a your of 1 . Gold prices also a quick look at that. Thats been strengthening with all of this fear around the world. 1309. What do you do with all of these risk factors . Good morning jack. Good morning. You have this near term very big risk if britain votes to leave the eu. What do you do as a u. S. Investor ahead of that . I think effectively making a list of what are Great Companies that do have reasonable Growth Prospects and reasonable valuations that might as a result of panic or reaction to a change in the geopolitical situation get much cheaper and give you a better chance to earn a return going forward. In terms of trying to be contrarian, is there a possibility things can be boosted for the uk if they leave the European Union . Are there contrarian bets you could be making there . Certainly if you go back and think about when the pound devalued in 1992, certainly that worked out very favorably for the equity market and british economy over a longer period of time. But i think the vote on brexit makes people wonder how stable the rest of the peripheral countries in europe are and their commitment to europe. And that is where people are fearful. What will this mean . How long will the process take for potentially the uk to disengage. And what is the right step . What will that market like like in europe on a four year basis . So within that, do you want to avoid the multi nationals with more exposure to europe and the uk . Error you looking to get on these contrarian plays . When you look back. And you have been talking all this morning. The u. S. Dollar has been a bit weaker which has been a bit surprising. Certainly the pound weaker versus the euro. Euro weaker. But the dollar has not been surging and has not been a safe haven. The yens been the safe haven. Gold has been. And with that the multi nationals actually benefit over time and to that perspective bring it back to where were talking about the Federal Reserve, that caution, that sense that u. S. Rates are going to move more slowly than you would have thought and with that the u. S. Dollar doesnt move higher. Translation gains wound up being more beneficial to u. S. Multi nationals going forward. Clearly u. S. Equities have been less effective than euro equities. Do you sit on the side lines for the week . I dont think so. Markets over react positively and negatively. And there certainly have been chances to put money to work within the markets over the last several days. Weve been trying to do that within portfolios and doing that within portfolios and i think you are looking at where the trends go not only the next week but over six month, 12 months, and 24 months and trying to form the best judgment about where the opportunity has been created by other peoples actions. Jack, thanks very much. Thank you. To Corporate News this morning. The saga continuing for Sumner Redstones media impyre saying he no longer trusts. Shares are down 36 the last year. Redstones email just as former preston also had harsh words in an interview with cnbcs fast money last night. Listen. Job right now. I no. I would say no. Some have described him as an arrogant elitist. Would you agree with those words is this. Totally. Total. Yeah. And a reputation of not being a great listener. Via com a possible takeover target but redstone is quote never one to sell anything. While no ones floated the idea he wouldnt take the ceo job himself if asked. Just keeps going. More stocks to watch today. Caviam is looking to buy q logic. A 14 premium to wednesdays closing price. Cavium says the deal would at 60 to 70 cents to adjusted earnings in 2017. Fire eye has rejected multiple takeover offers this year. Reports say the firm was seeking offers of at least 30 bucks a share but is no longer actively looking to sell itself. C trip revenue beat forecasts. Up 4. 5 . Time for some top trending stories. Who is the most lgbt friendlied can . Donald trump wants you do ask the gays. The president ial candidate saying ask yourself, who is really the friend of women and the Lgbt Community . Donald trump with his actions or Hillary Clinton with her words . Social media erupting with all sorts of gifts and means and responds. Ask the gays becoming a very popular hashtag. He has a way with good sound bites doesnt he. University of South Australia is saying that split sleeping might be better for your health. Studying say sleeping for a continuous 8 hours is something. Short sleep at night and then an afternoon nap. That way. Schedule. Yeah i wish that worked but i agree nighttime. True. Date aggregate bumble is streaming up with spotify to reveal your dates music taste before you swipe right. This would ruin my chances. The feature will work by connecting accounts to show potential matches their most listened to artist. The new feature set to roll out in the next few weeks. I cant even imagine. Billy joel no one would ever pick me. Well im not joining these apps anyway but definitely not know dont you think. No i know and i have to lie about it until someone is really into it. Well that is the problem. And brexit dominating the head lines. Really bring you the views coming up. And here is tads National Weather forecast from paul goodlow. Take a look at the forecast today. Again not quite summer officially but feeling like summer heat across dallas. 97 in dallas. 94 in atlanta. Chicago, 73 today and rain showers keeping you in the 70s in new york city. Denver is back to 90. 90 in bismarck. And l. A. , enjoy the 75 because weve got 90 this is weekend and beyond. Big time heat wave in the southwest. We could see phoenix approaching 120 degrees. That is close to some of the hottest temperatures you will ever see any time of the year. Much more coming up as Worldwide Exchange continues right after this break. Olay regenerist renews from within. Plumping surface cells for a dramatic transformation without the need for fillers. Your concert tee might show your age. Your skin never will. Olay regenerist. Olay. Ageless. And try regenerist microsculpting eyeswirl. It instantly hydrates to plump and lift. Cathys gotten used to the sme. In her kitchen rbage. Yup, shes gone noseblind. She thinks it smells fine, but her guests smell this. Ding, flies, meow febreze air effects heavy duty has up to. Two times the odoreliminating power to. Remove odors youve done noseblind to [inhales] mmm. Use febreze air effects, till its fresh and try febreze small spaces. To continuously eliminate up to two times the odors. For 30 days febreze small spaces and air effects, two more ways. [inhale exhale mnemonic] to breathe happy. Welcome back to Worldwide Exchange, to our must read stories. My pick, economists rare unity highlights peril of brexit. Chris charles writing economists have never been more united supporting a vote to remain. Yet the. Were also awaiting the imfs forecast. Yes. And very clear what economists are saying but it is not really changing opinion. Also an extra quote from the bbcs political editor. She says regarding osbournes negative outlook. Shout too loudly and the message might deafen rather than persuade and i think that is whats happening. Seems like the governments gone a little too far with the dooms day forecasts. I wonder what will happen if britain really does vote to leave and it is really not the armageddon. Then all economists would be wrong. The arguments are complicated. You put that up against someone saying say claim back our sovereignty, claim back our britishness and it is clear to see which argument resonates more. And i went to the telegraph for my op ed of the day which has been been backing the brexit. A wake up call she calls it. The referendum. If europe does not bend lit break. And ultimately she wrote that she is reluctantly going to vote to remain. Because if britain leaves the eu then it would faced with an antagonistic vengeful and protectionist empire on our doorstep. It will be deeply unstable. Her argument is britain should vote to stay to reform the eu and not make it this bureaucratic, unelected brussels and germany strik kind of eu. So shes complain about that but saying it is best to stay and actually reform it. And that certainly resonates with plenty of voters. However the problem is of course is if cameron and co echo that argument, one is they would say is this is a vote about british people. And the other vote is of course cameron has already tried to negotiate. And reform. And it failed. He says it was a success. And if he says again it is an accurate argument but hard to put across because it confuses their own arguments in voters minds. Going to be close. We are approach top of the hour. And that means squawk box. When you say it with that accent i almost believed you. Well i meant it. Just for a second. You know when i see newspaper head lines. I immediately i read things that just almost make me laugh. And today it was yesterday the fed said that the pace the pace of their rate hikes could shift. And it could slow. The pace could slow. Might get slower. When i was in school, i learned about like geometry. And like, there is a point. You have a point. And then you have two points makes a line. And then if you have more you can but if its been one rate hike in nine years or ten years, what is that pace . What is the pace of a point . You cant even connect two dots. There is no pace. And now they are going to slow that pace. They have given you other dots. You love looking at those other dots they have given you. I knew you would say that. Because those dots have been so predictive. And they never move. They never move the goal line on what employment rate would be. It was 6 1 2, then 6 and a 1 4. Then 5 and now i think zero. And why shouldnt it be zero or less in this country with the way that were playing this whole thing . It is just incredible to me that they cant realize at this point. And they have got cover. Because their cover is it is not them, it is not regulations. It is not no fiscal policy. It is still rinehart ro golf. No no. Were stilling with what happened 8 years ago. No one could have done any better. Were not causing this. Anyway this is a preview of what were going to talk about Richard Fisher about this today. And wasnt always in lock isotope with the rest of his peers and colleagues on the fed. Other than that. I was thinking about Something Else you talked about. Brexit. I dont know. I know wilfred you still think the polls are understating the remain. The crucial difference there is of course the betting odds when we look at that 60 40, it totals a hundred. When we see the polls are leading with leave. Its like for example 46 to 44 so there is still that portion of undecided and people fear that undecided portion is likely to go with remain because of the certainty. That is a big assumption. It is. But that is what people are saying. That is what the money is saying. That is what sterling and the betting market for me is for me is probably the most likely to focus on in the coming days. Did you ever see caddie shack . No. I dont know what that is. You are like the Dalai Lama Ma who has had not seen it. I am like the dalai lama. I agree joe. And on that wonderful note im going to to say well see you again in 9 mooinutes time. Dont be afraid. Indeed. And the bank of Japan Holding off on further easing. Just as the fed signals the plan to take the summer off from potential rate hikes. Talking to alan rusten next. Clapp today its their mobile app running on the ibm clo. Across every transaction, the hybrid cloud helps their data move quickly and securely. Our clients are building out features and pushing updates faster, on five continents. With the ibm cloud, they can move at the speed of any startup. With the ibm cloud, wearing powerful sunscreen . Yes neutrogena® ultra sheer. Unbeatable protection helps prevent early skin aging and skin cancer with a clean feel. The best for your skin. Ultra sheer®. Neutrogena®. Igoing to clean betteran electthan a manual. Was he said sure. But dont get just any one. Get one inspired by dentists, with a round brush head. Go pro with oralb. Oralbs rounded brush head cups your teeth to break up plaque and rotates to sweep it away. And oralb delivers a clinically proven superior clean versus sonicare diamondclean. My mouth feels super clean oralb. Know youre getting a superior clean. Im never going back to a manual brush. Welcome back to Worldwide Exchange. The yen spiking some 1. 6 . 104. 37 against the u. S. Dollar. Joining us to discuss alan ruskin. Good morning to you. Good morning. Lets hit on the yen first of all. Were we really expecting action today . Amazing really. Combined no action sort of story from the Federal Reserve as well taking a dovish line and then in the boj was just icing on the cake. We broke a very big level, 105. 55 and once we did that started to trig they are whole kind of self reinforcing hedging activity that you are getting from japanese investors. Nobody seems to like a strengthening yen across the globe. Seems to be spooky for stocks and bonds but especially the japanese. What do they do . There is not a lot they can do. It is plausible they ease again. So you can get another 10, maybe 20 basis points of rates. They are going more negative. That didnt work last time around. They could add to qe. Kind of helicopter dropping huge amounts of cash into Bank Reserves anyway. That is not going work i dont think. So i think you are going to be left with dollar yen pushing down. If it goes through a hundred. Particularly in certain circumstances, say a brexit, then perhaps you could see the boj intervene. In the currency market. Exactly. Lets talk about brexit. The yen is at a three year high against the pound. A significant high. Against dollar though were seeing sterling react according to the polls but still above where it was. If we did get an exit vote . My instinct would be yes there could be a large move as far as the pound is concerned. I cant speak for specific levels on that. But there is still plenty to go in terms of if you had a brexit. So yellen mentied the brexit risk for the economy. Kuroda mentioned temperature brexit risk. In switzerland they mentioned the brexit risk. Is that a signal they are talking about potentially coroneted coordinated action as a response . I wouldnt rule it out. Ordin as a response . I wouldnt rule it out. The bank of england could call in its friends to intervene on behalf as well. Coordinated central bank, currency intervention. Well really coordinated intervention where the Federal Reserve may be on their own book. That would be more of a systemic global risk which i dont foresee. But i think Central Banks on behalf of the bank of england is not nearly as farfetched. Alan ruskin of deutsche bank. Something to ponder. Coordinated global look at the smile. Look at the i dont know. Something we dont not. Thanks so much for joining us. Squawk box is coming next. Have a very good morning. Show me movies with romance. Show me more like this. Show me previously watched. Whats recommended for me. X1 makes it easy to find what you love. Call or go online and switch to x1. Only with xfinity. Break overnight in the boj, holding rates jet. And the yen spiking. Stocks logging a five day losing streak and a slower path for rate hikes. Slower than 1 in 9 years. And we only have one. So how do we know what the line looks like when it is just one point . You need two point farce line. Anyway it is not helps futures this morning. It is though helping gold. The war over via com, Sumner Redstone voicing has lack of confidence in the ceo. And former ceo speaking on the companys fall from grace. Thursday, june 16, 2016 and squawk box begins right now. Good morning everybody welcome to squawk box here on cnbc. Im becky quick along with joe kernen and andrew ross sorkin. And over night the bank of japan keeping rates steady. Bank of japan governor kuroda commenting, saying they will examine risks and will not hesitate to take additional measures to try and reach their 2 inflation rate. That announcement sent the yen sharply higher, which in turn sparked speculation on whether policy makers would try to intervene to halt the currencys rise. Its been on a tear this week. The nikkei fell sharply on the