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Pound Bulls Risk Disappointment as Hedge Funds Ramp up Bets
Hedge funds have ramped up bets for a stronger pound to the highest in a decade, increasing the chances of a violent retreat if a possible interest-rate cut spurs losses later this week. Leveraged funds, which include hedge funds, have increased their net-long wagers in the UK currency to levels last seen in July 2014, the latest weekly data from the Commodity Futures Trading Commission show. Such bets have more than doubled in the past month and have increased for four straight weeks. There’s a growing chorus of strategists suggesting those positions are overdone and could be vulnerable to a reversal if the Bank ... (full story)
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- Posted: Jul 29, 2024 9:19am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 2,349
