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Hedge fund Rokos warns that sterling is ‘vulnerable’ to further falls

Financial Times LogoFinancial Times1w ago

Hedge fund Rokos warns that sterling is ‘vulnerable’ to further falls - Financial Times

Quick Summary:

Compounding the problem for Britain is the “disproportionately negative” hit that mortgage owners would take from higher interest rates, because fixed-rate home loans in the UK tend to expire more quickly than in other nations, such as the US.

Sterling has fallen more than 10 per cent against the dollar this year and dropped to an all-time low of $1.035 in the wake of Kwarteng’s financial statement.

Odey Asset Management founder Crispin Odey was among traders who profited from a plunge in sterling in September following former chancellor Kwasi Kwarteng’s “mini” Budget of unfunded tax cuts.


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Article Details

Author / Journalist: Laurence Fletcher

Category: MarketsFinanceInvesting

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-11-25 @ 05:00:53 (1 weeks ago)

News Timezone: GMT -5:00

Ranking: #8 (out of 2195 stories this day)

News Source URL: ft.com

Language: English

Article Length: 660 words

Reading Time: 4 minutes read

Sentences: 25 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 1923923

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About Financial Times

Financial Times Logo

Main Topics: MarketsFinanceInvesting

Official Website: ft.com

Update Frequency: 18 posts per day

Year Established: 1888

Headquarters: United States

News Last Updated: 9 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #3

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