Markets are currently more skewed with bets against the British pound than even when George Soros famously made a killing breaking the Bank of England:
Wagers on the pound weakening against the dollar outnumber futures that profit on a rise by eight times more than when George Soros made $1 billion betting against the currency in 1992, the year Prime Minister John Major’s Conservative government was forced to withdraw from the European Exchange Rate Mechanism. Sterling fell 19 percent that year.
One wonders if Mr. Soros shorting the pound, again, as well.
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See Also:
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- When The Spotlight Hits The British Pound, The Rout Will Be Ugly And Fast