7 years ago
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.
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