The pound is a ‘screaming buy’ if it falls to $1.30, strategist says

SectorFinancial Markets
CountryMiddle east

Sterling notes and coins are laid out for a photo.Matt Cardy | Getty ImagesLONDON — A near-term fall in the British pound would offer investors a clear buying opportunity, according to one strategist, who said the currency was set to get a boost next year as a result of the U.K. leaving the European Union. Manish Singh, chief investment officer at Crossbridge Capital, said on Thursday that the "benefits from Brexit (are) going to accrue over (the) medium-term." He expects the pound this year to hold at its current level against the dollar (around $1.3626 at the time of writing) or head to $1.40, "but not beyond that, and if it gets to $1.30, then it's a screaming buy." Singh told CNBC's "Squawk Box Europe" that the pound would only move higher than the $1.40 mark next year, "on the benefits of Brexit accruing over time." Britain formally left the EU trading bloc on Dec. 31, ending a year-long transition period. The pound has wavered against the dollar since Jan.

1, and is currently down around 0.3%. New trading arrangements between the U.K. and the EU kicked in at the start of the year, but companies have already experienced disruption in getting goods across the more...