Investors should hedge for an “existential” sterling crisis as the British currency faces struggles usually seen in emerging markets, according to Bank of America Corp. strategists. The Bank of England continuing to hike interest rates won’t be enough to rescue the pound, strategist Kamal Sharma said in a note. Instead, there’s a risk the nation’s current account deficit, a deterioration of its relationship with the European Union over Northern Ireland and questions around the central bank’s credibility combine to create a “perfect storm.” “Whilst not wishing to over-exaggerate GBP’s predicament as some kind of ... (full story)