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Pound Skeptics Turn Believers

  • Allianz GI bets on sterling rally against dollar, euro, Aussie
  • Pound could ‘easily’ reach $1.45, volatility to rise, UBP says
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How Would a No-Deal Brexit Impact U.K. Assets?
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Even fund managers who were once shunning the pound are now betting on a rally as the U.K. inches toward a Brexit divorce deal.

Allianz Global Investors, which has been consistently short the pound since the referendum in 2016, has switched to multiple long positions on the currency. Union Bancaire Privee sees volatility rising and is looking to buy sterling on conviction it is undervalued.