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One Fund Bets The Worst Is Over For The Pound

Hedge funds and others were quick to pile on the bearish pound trade earlier this month, but at least one asset manager thinks the worst of the pain is over for the British currency. Nordea Bank’s Stable Return Fund, which previously bet against the pound this year—and made a tidy profit in the post-Brexit turmoil—is reversing its stance, as it eyes other currencies it thinks are more vulnerable.
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