In the City
Why the Pound Is Headed for Trouble Again
On this episode of In the City, we try to make sense of why markets are turning on sterling, and why trading the currency often leads to tears.
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The pound is notoriously difficult to trade. It’s a “graveyard for G-10 traders,” says Mark Cudmore, senior macro strategist for Bloomberg’s Markets Live blog. When it comes to making calls on the British currency, he says, “people only ever lose money.”
Cudmore joins reporter Sofia Horta e Costa on this week’s In the City to try and make sense of why markets are again turning on sterling, just one year after ex-Prime Minister Liz Truss’s spending plans drove the pound to a record low.