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Market Extra: Forget about the dollar — collapsed sterling is your best bet, says top U.K. fund manager

Sterling anyone?

With the pound GBPUSD, +0.2610% down almost 20% and counting since the Brexit vote, investors could be forgiven for giving the U.K. currency the cold shoulder.

But not if you are Alan Higgins, the contrarian chief investment officer at Coutts & Co. in London, the bank famed for having Queen Elizabeth II among its clients. He sees the pound’s pounding as nothing less than one of the best investment opportunities this year.

“We are buying sterling now,” he said. “I must admit it’s very uncomfortable first thing Monday morning, when [a co-worker] says to me: ‘Are you still buying sterling after the news over the weekend? I said, ‘Yes, because our principle is looking for value and being contrarian.

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