- Analytics
- News and Tools
- Market News
- Pound traders most optimistic on record for next month
Pound traders most optimistic on record for next month
Pound traders are more optimistic -- or worried -- than ever before that a Brexit deal is possible, based on derivatives pricing.
Options show investors are the most bullish on the U.K. currency on a one-month basis that they’ve been since Bloomberg began compiling the data in 2003. The upswing follows Thursday’s positive meeting between U.K. Prime Minister Boris Johnson and Irish Premier Leo Varadkar.
Risk reversals, a barometer of market sentiment and positioning, surged for options that benefit from a stronger sterling after Varadkar said he believed an agreement is possible by the Oct. 31 deadline.
The pound rose by the most in seven months as traders unwound bets that sterling would weaken.
On longer tenors, investors remain more cautious. While demand for options that look for a weaker pound has waned, the market is still biased in favor of downside protection.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
