Pound’s Decline Deepens as Currency Reclaims Dubious Honor

Just 10 days into the new year, the pound has already established a firm grip on its 2016 position as the worst-performing Group-of-10 currency. Sterling dropped to the lowest level versus the dollar since October on Tuesday amid concern the U.K. is heading for a exit from the European Union that prioritizes curbing immigration over single-market membership. That’s left analysts braced for another volatile 12 months, with HSBC Holdings Plc strategists predicting that the pound may drop to as low as $1.10 if the most severe exit option is pursued.
Read more: https://www.bloomberg.com/news/articles/2017-01-10/pound-s-decline-deepens-as-currency-reclaims-dubious-honor?source=Snapzu