Sterling Climbs But Where Could It Head Next?
The pound climbed for a third day as Home Secretary Theresa May prepared to take over as the U.K.’s next prime minister, removing one layer of political uncertainty after the country voted last month to leave the European Union. Sterling rose to its highest level in a week versus the dollar as investors digested the implications of the new premiership on the U.K.’s negotiations with the EU over its withdrawal from the bloc. May is poised to take office by Wednesday night London time, replacing David Cameron after her only rival pulled out of the Conservative leadership contest Monday. The FTSE 100 Indexof shares advanced for a fourth day, touching an 11-month high. Plurimi Wealth Managing Partner & CIO Patrick Armstrong discusses with Bloomberg's Francine Lacqua on "The Pulse."