Pound Emerges as Surprise Winner in Aftermath of U.S. Election
- Sterling is best performer among major currencies this week
- Traders reduced short bets as they wait for Brexit hearing
What Has the 'Special Relationship' Done for the Pound?
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Investors’ concern about political shifts outside Britain is benefiting the pound.
Sterling has climbed against all of its 31 major peers since last Friday. It’s the surprise winner during the week of Donald Trump’s electoral upset in the U.S. that threw markets into turmoil as traders reappraised populist movements and inflation. The pound’s recent surge marks a reversal from last month, when it was the worst performer, trailing behind 150 peers.