Monday Macro – Sterling blows out, investor positioning, earnings are OK and Euro crisis?

We’re still probably mired in gloom but there are some signs of hope. Except if you are into meme stocks.

Sterling loses its shine

I’m completely astonished that more people aren’t remarking on the weakness of sterling (GBP) versus the dollar (US$). Obviously, the dollar is resurgent and traders think the Bank of England will bottle increased rates, but the chart below shows that we may be approaching peak sterling weakness. This chart shows the Wisdom Tree …