Into the abyss Sterling could have much further to fall

Published by Financial News

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The pound’s woes continue.

After yet another fall, sterling was worth just $1.22 at midday on October 11, and more voices are adding to the predictions that there is much more to come.

The ‘flash crash’ in the currency last week was just the start, according to Neil Wilson, a markets analyst at ETX Capital.

It’s not unreasonable to think that ferocious flash crash was just a very tentative toe in the water and the pound is now plunging headlong into the abyss.

Doron Cohen, chief executive of payments startup Covercy wonders whether the fall is a sign of things to come.

Sterling has fallen a staggering 4.7% since the start of October, which is simply unprecedented and really a once in a generation fall due to the Brexit vote. The worrying thing is that these massive falls might just be the start of continual decline in the currency….