The pound is suffering from mounting bullishness on the dollar amid signs that the Federal Reserve (Fed) will accelerate the winding down of its emergency stimulus programme.
LONDON: Traders are taking an increasingly negative view on the pound, betting that the decline that’s already left the currency near its lowest this year has further to run.
Hedge funds are at their most bearish since December, while institutional investors are wagering against sterling at levels last seen more than two years ago, according to the latest data from the Commodity Futures Trading Commission.
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