Pound Investors Are Bailing Out as May’s Fate Deepens Brexit Chaos

Investec Asset Management, Aberdeen Standard Investments and Pictet Asset Management SA are cutting sterling positions or staying on the sidelines as Britain’s political turmoil reignites uncertainty around the nation’s exit from the European Union. With a senior minister resigning to add pressure on Prime Minister Theresa May to abandon her deal with the EU and quit, the risk of a disorderly Brexit is back on the radar. Sterling slid to a four-month low near $1.26 Thursday and is on the longest losing streak on record versus the euro amid concern that May’s successor could take Britain out of the bloc without a deal or call an early election.

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