Tag Archives: pound

Stacy Summary:  The original article on this sounded strange because, obviously, Rogers is always quoted regarding his thoughts on currencies, and, of course,, any billionaire currency speculator’s pronouncements on any particular currency should probably be treated with caution; but I’ve never seen him say anything like, ‘any day now it will collapse.’  I wonder if the press release was issued by anyone that stood to gain on the sharp move on the pound (down almost .6 percent today).

• Rogers denies saying pound will collapse

He argues that European leaders will likely paper over Greece’s problems, which will provide short-term support to the common currency. Alternatively “Greece will go bankrupt.” If it does, according to Rogers, the euro should rally because investors will see that Europeans are serious about enforcing fiscal discipline on member states.

“Right now there are huge short positions in the euro,” Rogers said. “I like to see a lot of shorts. It’s always good to be on the opposite side of a popular trade.”