Analysts: Sterling may fall after recent rebound

On July 17, Ebury's Matthew Ryan said in a report that the pound may weaken after its recent rebound, driven by optimism that Andy Burnham will become British Prime Minister following the resignation of Kiel Stammer. "We think the rebound in the pound is justified to some extent, but it is increasingly like an example of 'buy rumors, sell facts'." Ryan said sluggish UK economic growth and uncertainty around future fiscal policy could lead to a weaker pound. (Jin Shi)