Sterling has been tanking versus the dollar. Here’s how low it could go, according to the pros
The British pound has slid against the U.S. dollar over the past year, hitting a 37-year low against the greenback last week — and it could weaken even further, according to analysts. Sterling hit $1.1403 on Wednesday — a level not seen since March 1985 — amid dollar strength and mounting concerns over the U.K's economic outlook. This is only the fourth time that the currency has hit the $1.14 level, according to Refinitiv data dating back to 1972.
I do think there's potential for downside depending a little bit now on the news flow," Marten said. She says the pound has the potential to hit $1.10 against the dollar if "things go bad." "In the short term, if things go bad, and that means Liz Truss not managing to capture investor confidence by declaring how she's going to finance her spending and if the Bank of England's mandate been touched. And the whole situation with energy prices remains," she said.
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