When Mr Darling delivers the budget next week it may be worth remembering that hedge funds and speculators are betting against the pound. The latest data published by the US Commodity Futures Trading Commission show that net short positions in sterling now stand at their highest since at least January 1999. With 67,549 net short positions, compared with 29,475 at the start of the year.
The weight of speculative money is building fast and the weight of debt is threatening to topple the Labour Party at the General Election.
1 comment:
Michelle,
The speculators used charts and technical indicators to come to their decisions on positions and going short or long on Forex movements. The banks were much closer to bringing us down than the traders ever will be!!
Malcolm
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