Pound Bears Gather as Traders Look to Election Aftermath: ChartBy
The positive momentum that propelled the pound to the highest since September appears to be running out just in time for the U.K. election. Bloomberg’s Fear-Greed indicator shows traders betting on sterling declines have taken over from those predicting gains. The catalyst is probably less the result of the vote, which the ruling Conservatives are expected to win, and more the impending talks over Britain’s exit from the European Union, in which negotiating lines look increasingly hard. For more market insights, see Bloomberg’s Markets Live Blog on MLIV <GO>.