Wealth Design News

The pound staged a mini rally after Prime Minister Theresa May won the confidence vote, although that was as much to do with euro weakness as any positive sentiment towards the currency, or on clarity over Brexit. The battered British currency was headed for its best week against the euro in over a year, which likely says more about how far it has fallen than how far it has to rise. Some experts believe the best course of action is to avoid sterling if you can, but if you do have exposure to use any rallies to lock in hedging as the Brexit process still has a long way to run. While the consensus is that a cliff-edge will be avoided, it is not a given.