Traders Turn Short on Pound as Budget Chill Grows, Barclays Says
- Barclays head of FX distribution says positioning net negative
- Currency heads for its longest weekly losing streak since 2018
This article is for subscribers only.
Investors now hold more short than long positions in the pound following a new government budget that’s triggering a selloff across UK assets, according to Barclays Plc.
A handful of hedge funds and asset managers are adding to short positions in the pound in reaction to Wednesday’s fiscal plan, said Mimi Rushton, global head of currency distribution at Barclays. Exposure is fairly light, given the proximity to the US election, she added.