Jim Rogers Clarifies Position on the Pound

WSJ reports:

A press release sent Thursday ahead of a conference in March at which Rogers is scheduled to speak said the famed investor predicted a collapse of the pound within weeks. Clarifying the confusion, Vince Stanzione, one of the organizers of the London conference, said he wrote the comments attributed to Rogers in the press release. Rogers “is obviously a little bit upset because he’s saying some of these statements are harsher than he would like to say,” Stanzione said.

In a telephone interview from Singapore, Rogers said he will attend the conference for investors in London in March, citing “contractual obligations.” As regards his views on the pound: “I do not think the pound sterling is going to collapse within the next few weeks. I’m on record as saying the U.K. has serious problems, serious debt problems, and the pound sterling has got problems, too,” Rogers said. He emphasized the U.S. and other countries also face serious economic problems.

Regarding a separate forecast released by UBS earlier this week calling for a possible fall in the pound to “$1.05 and below,” Rogers said he wouldn’t be surprised if sterling fell that far, “but whether that happens this year or this decade, I don’t have a clue.”