Marcus Ashworth, Columnist

Sterling Is Down and the Worst May Be Yet to Come

The pound is facing political and financial headwinds and may test lows from earlier this year.

November 9, 2021 at 6:30 AM UTC

Marcus Ashworth is a Bloomberg Opinion columnist covering European markets. Previously, he was chief markets strategist for Haitong Securities in London.

Heading for a fall?
Photographer: Bloomberg/Bloomberg

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"When shall we three meet again? In thunder, lightning, or in rain?"

That’s the first witch setting the opening scene in Macbeth but it might as well be any commentator on the current state of the U.K. or outlook for the pound. The lows for sterling this year versus the dollar at $1.34 look set to be tested again soon. Sterling is not going to fall apart suddenly but there are notable headwinds.