Market Extra: Why one contrarian investor says the British pound could rally to $1.40 in 2018

The pound had a surprisingly strong run in 2017, and there are no signs the British currency is going to give up its rally in 2018.

That’s the message from Alan Higgins, the contrarian chief investment officer at Coutts & Co. in London — the bank famed for having Queen Elizabeth II among its clients. Higgins said he is staying positive on sterling GBPUSD, -0.0795% this year, even as Brexit talks continue to rumble along in the background.

“We expect the U.K. to get a Brexit transition deal and therefore more confidence for U.K. corporations and overseas corporations [looking to invest in the U.K.

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