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Bill Gross Is Long the Pound After Plunge With Dollar Overvalued

The bond veteran once said sterling was poised to explode, but he’s now switched position in a bet it will rally against the US currency.

Bill Gross, co-founder of Pacific Investment Management Co. 

Bill Gross, co-founder of Pacific Investment Management Co. 

Photographer: Bing Guan/Bloomberg

Bill Gross is betting on the pound.

The legendary investor caused a stir in 2010 when he warned the British currency was “resting on a bed of nitroglycerine.”