Is sterling the 'ugly' currency?

CURRENCY

With the IMF warning sterling is 10% overvalued, the pound is fast moving up the list of ‘ugliest currencies', according to Simon Evan-Cook, director of multi-asset at Premier Asset Management.

Financial markets have become tight in recent months. For value investors, the pre-2013 investment landscape was lush and verdant. Opportunities were plentiful, which meant, even if calls were wrong, the outcome would merely have been a lower - but still positive - return. By contrast, the landscape now is parched and barren, and like the unfortunate subjects of a David Attenborough special, pools of opportunity are harder and harder to come by. Most assets appear to be around fair value, with a minority either cheap or dangerously expensive. It is no longer possible to make sweeping ...