Reuters – Hedge funds are approaching Wednesday’s Bank of England minutes betting the pound will extend its surge to a one-year high against the euro but wary the bank could signal interest rate rises may be pushed back.
Many hedge funds were slow to catch on to the pound’s 12 percent rally from early July to the end of 2013. The gains came as the UK economy’s recovery increased the chances the Bank would be the first major central bank to raise interest rates. As the rally took hold, funds added to their bets, ending the year bullish.
