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."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)