British Firms Extend Currency Hedges Amid Pound Surge, Sterling Weakness Ahead of UK Budget
British companies are locking in currency hedges for longer periods due to the pound's recent surge and concerns over global geopolitical uncertainty, which may lead to increased volatility. Additionally, forex markets are anticipating further sterling weakness ahead of the UK budget on Wednesday. Hedge funds and asset managers are continuing to sell the currency, as noted by Citigroup. Citigroup stated, 'Our data suggests the FX market is positioned slightly bearish sterling ahead of the budget.'
Sources
Bloomberg Asia
Forex markets are positioning for further sterling weakness ahead of the UK budget on Wednesday, with both hedge funds and asset managers continuing to sell the currency, according to Citigroup https://t.co/j9VEkZ6yLb
Bloomberg Economics Forex markets are positioning for further sterling weakness ahead of the UK budget on Wednesday, with both hedge funds and asset managers continuing to sell the currency, according to Citigroup https://t.co/zrlxEFsUvS
Bloomberg Markets Forex markets are positioning for further sterling weakness ahead of the UK budget on Wednesday, with both hedge funds and asset managers continuing to sell the currency, according to Citigroup https://t.co/awD9er6loY