Speculative traders on the Chicago Mercantile Exchange aggressively bet on the UK pound to continue its recent bullish trend, data from the Commodity Futures Trading Commission showed on Friday. Traders held a net $760 million long GBP position or bets that the pound will rise as of Tuesday, according to the CFTC's weekly commitment of traders report. That is a dramatic shift from being a net seller of the currency for the last 8 months, but it comes in line with the recent pound rally following the MPC minutes last Wednesday which showed BoE policy maker Adam Posen dropping his call for an additional QE. Since then ... (full story)