SPECULATORS' LOSSES
LONDON, March 14. Tho financial correspondent of the "Daily Express" says that the resumption of dealings in . dollars brought heavy losses to speculators in international currency before tho suspension of dealings on March 4.
Many had sold short on a, big scale, convinced that tho value of the dollar would drop. They were unpleasantly surprised when dealings began on Monday at 3.44 .dollars to £1, with such a- heavy- demand that they closed at 3.39.
'Banks operating on behalf of the Exchange Equalisation Fund had no need to deal extensively . after they gave a lead at the opening. The bears did everything necessary to keep the pound down. Some authorities estimate that short dollar sales total £60,000,000.
Losses in Paris by speculators are estimated at £2.000,000.
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Bibliographic details
Evening Post, Volume CXV, Issue 62, 15 March 1933, Page 9
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128SPECULATORS' LOSSES Evening Post, Volume CXV, Issue 62, 15 March 1933, Page 9
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