With three weeks to go before Britain is due to exit the European Union, interes...
LONDON - With three weeks to go before Britain is due to exit the European Union, interest in selling the pound against the dollar and euro is dwindling as currency traders bet that the worst-case scenario of a no-deal Brexit will be averted.
It is up 7 percent against the dollar year-to-date, making it the world’s best performing major currency. CFTC offers the most reliable and frequent update of investor positions though its data measures only a tiny fraction of the market. Separately, analysis by RBC Capital Markets of third-party flows data shows pound buying surged in two distinct rounds recently, especially against the euro, FX quantitative trader Robert Turner said.
Investors had a small euro long position versus the pound in early 2019 of +11 percent, swinging to a record short of -100 percent on Feb. 27. The current score is -78 percent, RBC said.Similarly, Nomura’s positioning metrics indicate that net short sterling positions have declined to near their lowest levels this year, with a net short bet of less than $3 billion. At end-2018, net short positions amounted to $4.5 billion.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brexit extension could draw legal challenge: German parliament reportBritain could face an EU legal challenge if it seeks to delay Brexit because of ...
Read more »
After a no-deal Brexit, should Britain abolish all tariffs?Embracing unilateral free trade would lower consumer prices by only 1%, according to a paper from Sussex University
Read more »
Britain, EU locked in talks as Brexit vote nearsIntensive talks between the European Union and Britain are underway to help get ...
Read more »
Britain still hopeful of weekend Brexit breakthrough, says HuntBritain's government is still hopeful it can secure a Brexit breakthrough w...
Read more »
Victims of that other Ponzi scheme—Allen Stanford's—say they have been short-changedThe SEC shut down R. Allen Stanford's operations 10 years ago this week. As with Madoff, it missed warning signs of the $8 billion fraud for years.
Read more »
Short-seller Block: Musk should relist Tesla shares in Germany, where he can tell 'mistruths' easierElon Musk isn't being held accountable for his 'mistruths,' and the Tesla CEO should list his company's shares in Germany where regulations are loose, short-seller Carson Block says.
Read more »
Bill Gross says he diagnosed his own Asperger’s while reading ‘The Big Short’The Bond King reveals that he recognized his autism spectrum disorder in his 70s after reading ‘The Big Short’
Read more »
Greg Rosen Joins VC Firm Bedrock Capital As Partner After Short Stint At BenchmarkMonths after joining storied VC firm Benchmark, investor Greg Rosen is departing to join New York-based Bedrock Capital as its third partner.
Read more »
Puppy weighing six pounds dies after vets find nearly 50 short ribs in his stomachVets don't know if the pup was fed the bones deliberately, or gobbled them up while rooting through garbage.
Read more »