Hedge Funds Pound Currency

Hedge Funds Pound Currency

Hedge Funds Make Gains From Fall of British Pound

Hedge funds who were able to foresee the fall in the pound's value have made sizable gains.  Three of Europe's biggest hedge funds have reportedly earned "hundreds of millions" off the British currency's decline.  The hedge funds that successfully bet against the pound include: BlueCrest Capital Management, Winton Capital, and the Man Group. 
Three of the U.K.’s biggest hedge funds have posted huge profits on the British currency’s pain.
BlueCrest Capital Management, the Man Group and Winton Capital have earned “hundreds of millions of pounds” on the downturn of said pound Sterling, the Daily Mail reports. The pound is down to less than US$1.50, US$0.20 lower than it was over the summer.
According to Harry Adams of foreign exchange broker Schneider, currency investors are betting on further falls for the pound. He said that were Britain to lose its triple-A credit rating, the currency could fall to just US$1.20 in a “disaster for sterling,” Adams told the Mail.  Source


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