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  • $2 Trillion Asset Manager Ready to Buy the Pound at $1

    From bnnbloomberg.ca

    The pound will need to keep sliding to be worth just one dollar to attract Europe’s biggest asset manager to start buying it. Amundi, which manages about $2 trillion in assets, is currently underweight on sterling against the dollar, but could flip its position if the two were worth the same. That’s a prospect Wall Street banks are calling for by the end of the year, even though the currency has recovered from a record low this week to trade around $1.10 on Friday. The firm’s decision on its sterling position will be driven less by UK politics and more by the global picture, according to Federico Cesarini, the ... (full story)

Too late buddy
Master your mind. Master Trading.
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  • | IP XXX.X.84.148
Naw, I'm thinking that after Oct 14, when the BoE is done buying that it will drop again. Sentiment is still very bearish and might need several banks to step in.
  •  Guest
  • | IP XX.XXX.160.215
Seems like someone probably again shorted pound......just look at the British pound index (BXY), someone shorted again at the closing time of the market ...
The old adage: buy the rumour, sell the news.
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  • | IP XX.XXX.168.16
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  • Posted: Sep 30, 2022 2:17pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 4  /  Views: 2,938

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