Bloomberg earlier wrote that the British pound could fall as much as 8%, and then some foreign experts have spoken about this issue.
As markets opened this morning, the pound headed for $1.21, its lowest level since November 2023, according to foreign media.
But Tony Redondo, founder at Cosmos Currency Exchange, said the drop could go as low as $1.15, writes A2 CNN.
"The bottom has already touched over 2.5% against the euro and almost 5% against the dollar since Christmas," he said in comments provided to Money by Newspage.
"Further declines are expected across the board. They are expected to be more muted against the euro, given fears of stagflation hanging over the eurozone economy and political paralysis in its two main economies, Germany and France."
"Against the dollar, the pound could continue to free fall. The data only adds to the idea gripping markets that the Federal Reserve will move slowly to cut US interest rates in 2025, in an economy that continues to be more good".
"Add the fact that Trump's inauguration is now just over a week away and the negative economic effect his tariff plans could have on both the UK and eurozone economies could see the pound trade at $1.15 or lower against the greenback", concluded the expert, writes A2 CNN. (A2 Televizion)
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