Prime Minister Boris Johnson's most audacious bid yet to take Britain out o...
Valuations aren’t the only factor encouraging some money managers to buy sterling.
Then there is positioning. Weekly data suggests that short bets against the British currency - essentially a punt on prices falling in the near future - swelled to a near 2-1/2 year high of $7.79 billion this month. Betting odds on a no-deal exit in 2019 have crept up but at 43%, according to the Betfair Exchange, they also do not yet point to widespread panic among punters.Against this more positive pound outlook is the argument that a no-deal Brexit is far from priced in. Some have forecast sterling to slump toward parity against the euro - and possibly even the dollar - should Britain crash out in two months time.
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