GBP: Shorts at highs as Pound tracks Oil-led USD rally – Rabobank
Rabobank highlights that GBP net short positions have risen over 40%, reaching their highest level since August. The Bank of England kept the Bank Rate unchanged at 3.75% on September 18, in line with expectations. The Pound has weakened in tandem with the recent Oil-driven USD rally, underscoring negative speculative sentiment toward GBP.
Speculative shorts weigh on Pound
"GBP net shorts have also increased by more than 40% to their highest level since August."
"The Bank of England held the Bank Rate at 3.75% at the September 18 meeting, in line with market expectations."
"GBP has weakened in line with the recent oil-driven USD rally."
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