Over the course of a few months the Pound sterling has dropped over 12% after the ‘Brexit’ vote. The tumble of the Pound sterling however is nowhere near done, according to the Deutsche Bank.
The now prognoses is that the Pound sterling could fall as low as 1.05 USD, which would mean another 16% drop, all due to the incredibly complicated nature of the Brexit.
Speaking about the upcoming Brexit negotiations, George Saravelos, the German lender's global co-head of foreign exchange said: "Even though intentions are quite positive on both sides, we're very concerned about the lack of time to complete a deal in two years, and we worry that negotiations will get stuck around this issue of the payment which the UK has to make to leave the EU, and things will stall quite quickly.”
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