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Pound Haunted by Pandemic-Era Pain as Variants Rattle Traders
Investors bullish on the U.K. pound have gotten used to brushing off concerns about Covid-19 infections and the post-Brexit future. Now, a sudden rethink on the global recovery is bringing those worries back into focus. Sterling is on course for its first back-to-back monthly declines versus the dollar since March 2020 -- when the coronavirus became a pandemic and spurred turbulence in markets worldwide -- and only its second month of losses versus the euro in almost a year. Allianz Global Investors said Tuesday it’s keeping a bearish bias on the pound, while Legal & General Investment Management Ltd. said it ... (full story)