Sterling fell to a 10-month low below $1.50 against the dollar on Monday as figures revealed speculators had built up record bets against the pound and concerns grew over the UK’s record budget deficit.
Positioning data from the Chicago Mercantile Exchange, often used as a proxy for hedge fund activity, showed investors raised their short positions in sterling to 62,884 contracts, worth $6.1bn, in the week to February 23. This was up from 56,079 in the previous week. The extension of bets against the pound, which exceeded their previous peak in October, came amid increasing uncertainty over the Bank of England’s asset purchase plan and the possibility of further quantitative easing.
http://www.forexfactory.com/news.php?do=news&id=223175
British pound falls 1.7% against the dollar after Prudential deal. The British pound fell sharply against the U.S. dollar on Monday, pressured by U.K. election jitters and Prudential Plc’s plan to buy the Asian operation of American International Group.
The euro was flat against the greenback, underpinned by media reports of potential financial support for Greece.
http://www.marketwatch.com/story/euro-holds-steady-on-hopes-for-aid-to-greece-2010-03-01?siteid=bulletrss