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David Bloom: FX Markets Fear 'Armageddon'

Thursday, 23 Jun 2011 | 1:15 AM ET

Investors fear 'Armageddon' in foreign exchange markets and have concerns beyond the European sovereign debt crisis and sluggish US growth, David Bloom, Global Head Foreign Exchange Strategy at HSBC told CNBC. He added that technical factors mean there's currently "a bear market in ideas" and investors are running scared.