Brexit And The Euro: Net Short Speculative Positions Largest Since March 2017

True, Brexit sounds like a Kellogg’s or Post cereral product, but it is the attempt by Great Britain to escape the clutches of the European Union insidious trade deals, among other things. But Britain’s “Great Escape” appears to be on the verge of collapse.

Hedge funds are turning ever more bearish on the euro as a combination of weakening economic data and ongoing political tensions with Italy damp sentiment. Net short speculative positions reached the largest since March 2017, according to the latest data from the Commodity Futures Trading Commission. Figures Friday showed the region’s composite PMI indicator fell to the lowest in four years, while Italy’s populist government continues to debatea deficit target which would be acceptable to the European Commission.


To be sure, some sort of Brexit deal will be hammered out, but probably similar to the 1626 purchase of Manhattan Island for the equivalent of $24 worth of beads and trinkets. That is, Great Britain will sell out for virtually nothing.

Below is a picture of UK Prime Minister Theresa May in a decorative hat on the left striking a “deal” with the armed EU delegation from Brussels.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.