Hedge Funds Raise Bearish Pound Bets to Record Before BOE: ChartBy
Hedge funds and other large speculators have boosted their bearish bets against the pound to the most since records began in 1992, according to U.S. Commodity Futures Trading Commission data. A U.K. report Monday suggested they may be right. Manufacturing shrank more in July than initially forecast, adding to speculation that the Bank of England will cut interest rates on Aug. 4 amid signs that Britain’s decision in June to leave the European Union is hitting the U.K. harder than previously envisaged.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.