Investors bullish on the U.K. pound have gotten used to brushing off concerns about Covid-19 infections and the post-Brexit future. Brandywine Global Investment Management, a sterling bull throughout much of the Brexit crisis, turned neutral on the pound at the beginning of June. The pound ended last week down 0.2% to $1.3748, bringing its loss in the past month to 1.6%. The median of 77 analyst forecasts compiled by Bloomberg is for the U.K. currency to end the third quarter at $1.40. ‘No Longer Bullish’“We are no longer bullish sterling," said Jack McIntyre, a Philadelphia-based money manager at Brandywine Global Investment Management who’s been trading in and out of the pound since the 2016 Brexit referendum.

Source: Mint July 25, 2021 04:52 UTC