City Of London
Hedge Fund That Shorted The Pound Now Bets Against UK Stocks
- Founder of EDL Capital says BOE will be forced to act
- Edouard de Langlade has been betting on a fall in the pound
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Edouard de Langlade, founder of macro hedge fund EDL Capital, says the Bank of England will be forced to act to stabilize the UK’s currency and bond markets, which have cratered in response to the country’s tax cuts and fiscal policies.
The hedge fund manager, known for his aggressive trades, had been betting on a fall in pound and took profits overnight as the currency weakened. He said he has retained a fifth of his wagers against the currency and is betting against UK stocks in expectation of higher interest rates, which he believes could eventually hit more than 10%.