John Taylor, founder of the $3bn FX Concepts fund, has predicted the pound will rally from here against the euro after its recent fall, as attention returns to the eurozone.
Sterling has been the world's worst-performing major currency so far this year, as fears over Britain's growth prospects and uncertainty over its future in Europe weigh on the pound. Following the release of weaker manufacturing data last week, the pound closed near an 18-month low against the euro at €1.1550, having fallen blow €1.14 earlier in the week. Versus the dollar it fell below $1.50 for the first time since the summer of 2010. However, Taylor said the FX market will soon start to refocus on the structural problems facing the euro that have dominated currency markets for the ...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes