The pound has beaten the Argentine peso in becoming 2016’s worst performing currency.
In the wake of the Brexit vote, the pound fell below $1.30 interestingly since 1985. It recovered, marginally to $1.29 before the second's over week.
A few anaylsts are foreseeing that the pound still has an opportunity to fall further, against the dollar in the following three months.
Goldman Sachs has said that:
"The pound could go as low as $1.20 against the dollar in the following three months, levels not seen since the mid year of 1985."
"We trust the UK economy's all around recorded financial and current record deficts, joined with the way that GBP is not particularly cheap, leave room for still more GBP weakness," said Shahab Jalinoos, worldwide head of FX system at Credit Suisse.
.JPG)
