Sterling turning into ‘emerging market currency’

The politicisation of the Bank of England and a weakening economy risk turning the pound into an “emerging market like” currency

In a downbeat assessment of the UK’s economic prospects, the impact of Brexit, and the potential politicisation of monetary policy, the US investment bank believes investors will dump the British currency after sustained weakness this year.Sterling has fallen by 6.5 per cent against the dollar so far this year to a two-year low, largely as a result of the US central bank’s aggressive tightening of monetary policy pushing up the value of the greenback.

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