Pound seems to be starting to win some friends

London

THE world's worst-performing major currency of 2016 is starting to win some friends.

Old Mutual Asset Managers Plc, which oversees £327 billion (S$576 billion), said it turned bullish on the pound after UK economic data signalled that the country was resilient in the wake of the June vote to leave the European Union. Sterling bulls were immediately rewarded with the biggest weekly gain versus the dollar in more than a month.