Photographer: Chris Ratcliffe/Bloomberg

Hedge Funds Cut Bearish Pound Bets Before Currency Slides: Chart

Hedge funds and money managers trimmed net bearish positions on pound futures for the third week, missing out as the currency fell 2 percent this week. Bets that sterling would fall outnumbered bullish wagers by 82,821 in the week to Sept. 13, a decline of almost 8 percent from a week earlier, according to data from the U.S. Commodity Futures Trading Commission. The U.K. currency dropped after the Bank of England signaled Sept. 15 that further easing can’t be ruled out while keeping its key interest rate and asset-purchase target unchanged.

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