Uncertainty regarding the ultimate nature of Brexit has led most international asset allocators to scale back their UK weightings after the referendum.
Additionally, most domestic asset allocators have held back from investing cashflow into UK assets, so they too have moved to sub-normal weightings. With good returns to be made overseas, and ongoing Brexit uncertainty, we shouldn't be too surprised that sterling has remained weak. Investment Conundrums: BNY Mellon's Dhar on why UK assets will remain cheap in any form of Brexit Over the first half of 2019, the position has remained unchanged as the Brexit fog remains as thick as ever. It could end in a near chaotic Brexit, which would lead to further weakness in the UK exchange rat...
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