Pursuits
Pound Headed to 30-Year Low for Deutsche Bank as Risks Multiply
- Lender sees sterling tumbling 15% against dollar by end 2016
- Currency's gains versus other peers damp rate-rise outlook
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Sterling’s slump to a seven-month low on Wednesday is just the tip of the iceberg, according to a growing number of analysts and investors uneasy about the U.K. currency’s prospects in 2016.
With a prediction the pound will weaken a further 15 percent by the end of next year, Deutsche Bank AG is among the biggest skeptics. The second-largest foreign-exchange trader sees sterling sliding to a level unseen since 1985, the year the Plaza Accord was signed, Britain’s miners’ strike came to an end and “Back to the Future” dominated movie theaters.