Pound loses weight
How has Brexit affected the pound?Sterling sank 10 percent in value to its weakest point since 1985 after Britain voted to leave the European Union, triggering a global rush of capital into the traditional security of the yen and the Swiss franc. Morgan Stanley expects the pound to fall to between $1.25 and $1.30. HSBC also cut its quarter end and year-end forecasts for sterling. It expects sterling to fall to $1.20 by the end of 2016.
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