Could a devalued pound push the FTSE to 7,000?

Legal & General IM's Ben Gill expects the Bank of England may be forced to intervene to weaken sterling as it explores other forms of QE.

Gill, manager of LGIM’s £508m Global Macro Themes fund, said the extension of the Bank of England’s quantitative easing programme is shrinking the pool of remaining gilt sellers, a problem which may force policymakers to move in an alternative direction. “The UK is going to have to carry on doing QE. There is no way we are going to be able to stop it – but policymakers will have to find a new way of doing it. I think there is a possibility the UK will end up engaging in currency intervention and devaluing the pound,” Gill said, speaking at Investment Week’s Senate Spring Investment confe...