Will George Soros Be Right About The Euro Too??

George Soros became one of the most famous currency traders in the world based on his bet against the Bank of England in 1992 on what became known as Black Wednesday, where he made over $1 billion on the trade.

In the months leading up to Black Wednesday, George Soros had been building a huge short position in pounds sterling. He recognized the United Kingdom was at a disadvantage when Britain joined the ERM, believing the rate at which the UK was brought into the Exchange Rate Mechanism was too high.

Black Wednesday occurred in the United Kingdom in September of 1992,

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