Jim Leaviss, head of retail fixed interest at M&G Investments, is considering investing in sterling again, having been bearish on the currency for some time.
Speaking at Investment Week's Funds to Watch event straight after the UK General Election, Leaviss said sterling was now looking more attractive, since it is one of the cheapest major currencies in the world. The manager said: "Sterling is nearing the bottom, if you look at the Big Mac index or a purchasing parity index then sterling is 12%- 15% undervalued right now. "You can price in all the bad news over low economic growth and Brexit shocks and it is still one of the cheapest currencies in the world. Only the Mexican peso is cheaper than sterling. "We have been very bearish on ...
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