Not exactly a material number now, is it?

Traders bet £5bn against the pound

Hmm, well. Global FX market turnover is for the order of $5 trillion a day. -Ish, -ish. Perhaps £2 trillion a day in London.

£5 billion being bet the one way on one currency, my that is a Big Boy, isn’t it?

This before we get to zero sum nature of speculative FX markets, there must equally be folk betting £5 billion the other way – for someone’s taken the bet, right?

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