Keeping UK in the EU is best for European stability

London

THE UK is likely to stay in the European Union (EU) after the June 23 vote. So I have been backing a contrarian positive outlook for the sterling since its lows in March, when disquiet about a British exit was at its height.

My view on the pound is partly based on valuation terms, which have historically proven very resilient at levels near or below US$1.40. Another factor is the relative resilience of the UK economy.