Pound Could Go From Bad to Worse as May Drama Dominates Mood
- Cabinet reshuffle is likely later this month: Sunday Times
- Short-term volatility gauges on the pound are elevated
This article is for subscribers only.
There may be no respite for the pound after its worst weekly performance in a year.
Sterling fell almost 3 percent last week, after a chaotic Conservative party conference cast the premiership of Theresa May in doubt. With political intrigue set to continue, the Brexit talks restarting and manufacturing data due, strategists anticipate another volatile week and investors in the options market have turned bearish. Meanwhile, May could be planning an overhaul of her team of top ministers soon, the Sunday Times reported.