Hedge Fund Manager Crispin Odey, who advocated Brexit's idea, resumed his pledge against the British pound after the lawmakers failed to reconsider the terms of the divorce, and the Labor party broke up. This has reinforced the fears that Britain could come out of the EU without a deal.
Last month, Odey again turned out to be negative for the currency, betting against it with the prospect of cheaper even at no-deal Brexit. He is expected to face sharp criticism again, because some see this as a deliberate speech in order for some people to profit from the economic problems of the UK.
Odey made about $ 284 million profit for a day when the pound failed after the results of the referendum vote in June 2016. Ironically, however, he lost that amount in the days when the pound began his recovery.
The main hedge fund of Odey - European Inc. has staked about 14% of all its assets against the pound at the end of January.
Source: Bloomberg Finance L.P.
Graphs: Used with permission of Bloomberg Finance L.P.
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