Advice From Fund Managers? Sell the Pound

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Advice From Fund Managers? Sell the PoundSell the pound, avoid U.K. gilts and wait for Brexit progress. BlueBay Asset Management LLP is shorting the pound and gilts, while UBS Wealth Management is avoiding U.K. government debt and long-term pound bull Nomura International Plc has ended its buy recommendation on sterling. With Brexit talks between the Conservatives and opposition Labour dragging on and no sign of progress, the pound is one of the worst performers among Group-of-10 currencies in the past week.

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