Home » Crisis-Breaking Traders Now Buy Pound Near All-Time Low – Bloomberg

Crisis-Breaking Traders Now Buy Pound Near All-Time Low – Bloomberg

by archyde

In 2007 and 2008, when the storm of the financial crisis raged around the world, a hedge fund manager made a profit of $2.7 billion (approximately ¥390 billion at the current exchange rate) in volatility trading. became. Stephen Diggle is now buying into the pound, which has sunk to an all-time low.

On Tuesday, he spent 10% of his “small fund” assets on sterling. The purpose is to finance UK investments, mainly stocks of companies that make profits in dollars and cover costs in pounds. He made the disclosure in his email. It did not mention the name of the stock or the size of the fund.

“You can’t predict a trading floor, and who knows,” said Mr. Diggle, who is based in Singapore. “But compared to the five- or ten-year average, the pound is very cheap now,” he said.

Mr Stephen Diggle

Source: Artradis Fund Management Pte

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