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Bets Against the Pound Are at the Highest Level of the Year

From bnnbloomberg.ca

It seems a consensus is finally emerging on Brexit -- no, not about the vote, but the fate of the beleaguered pound. A gauge of trader positioning from Citigroup Inc. shows short bets on sterling at their highest levels since December and the bearish wagers are set to rise even further, according to market participants. The rationale: Britain just can’t seem to agree on a Brexit deal -- and the uncertainty will keep bruising sentiment toward the most-volatile Group-of-10 currency this year, said Jingyi Pan, strategist at IG Asia Pte in Singapore. “The closer we get to the Brexit deadline without a clear resolution, ... (full story)

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  • Category: Fundamental Analysis