Investors have bet more than £11 billion on Brexit crushing the pound

From businessinsider.com

Investors are putting billions of pounds worth of bets on the pound crashing should Britain vote to leave the European Union in June. According to data compiled by Bloomberg, investors have piled up more than £11 billion ($15.5 billion) in currency options that would profit is the pound falls more than 4% after the UK's EU membership referendum on June 23rd. Currency traders are expecting the pound to fall below $1.35, a level not seen since the 1980s, in the event of a Brexit. Sterling traders have become increasingly jittery about the prospect of Brexit and its impact on the UK economy since the referendum date ... (full story)