July 25, 2024 – Written by David Woodsmith
Leave a comment STORY LINK Hot Money Flows Increases Pound Correction Risk
The Pound to Euro (GBP/EUR) exchange rate has been held in narrow ranges with no further attack on the 1.1900 level and settled little changed around 1.1875.
There are growing concerns that global speculators have piled into the UK currency which will leave the currency vulnerable to a sharp correction if the hot money flows out again.
The latest COT data registered a record high long, non-commercial position.
Bank of America (BoA) still recommends buying GBP/EUR dips….
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