Has the pound become emerging-market money?
Why the British currency has become more vulnerable to crises—and strangely popular
STERLING WAS once the world’s dominant currency. As the American dollar took its crown, it became second-tier but remained elite, and for decades was content with its lot. Yet lately the pound’s shine seems to have dulled again—so much so, says Kamal Sharma of Bank of America, that it has been “acting [like] emerging-market (EM) currencies”.
This article appeared in the Finance & economics section of the print edition under the headline “Not so sterling”
Finance & economics April 9th 2022
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