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Hedge funds bet on pound rally
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Hedge funds have tempered their expectations of the pound's rise after the mini-budget debacle. Overall they are neutral on sterling’s movement but lean slightly towards it regaining some value.
Data from Chicago-based exchange CME and London research firm Macro Hive found that on balance, hedge funds were still net long on the pound, holding 4,000 call option contracts — bets that believe the pound will go up.
Macro...
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