King: Euro Parity Won't be Pleasant for Brits Abroad
HSBC, Europe’s biggest bank, cut its sterling forecast on Aug. 8 to predict parity with Europe’s single currency by the end of next year. It also sees the pound falling 16 percent to $1.10, surpassing a three-decade low of $1.2798 reached in July. A one-for-one exchange rate would be a first for the pound. And even with an 11 percent slide since the Brexit vote, the U.K. currency is still some way from its all-time low of 98.03 pence per euro reached in the depths of the global financial crisis in 2008. HSBC Senior Economic Adviser Stephen King discusses with "On the Move" hosts Manus Cranny in London and Caroline Hyde in Berlin.