Sterling has further to fall – ABN Amro

Following action by the BoE and with more negative data on the economy expected, sterling is likely to hit 1.20 by the year end

Bank of England governor Mark Carney
Mark Carney: the BoE cut interest rates for the first time in more than seven years to a record low of 0.25%

Sterling is likely to drop to 1.20 against the dollar by the end of the year, in the wake of further stimulus measures from the Bank of England (BoE) and as the likelihood of deteriorating economic data weighs on the currency, says Georgette Boele, co-ordinator for FX and precious metals strategy at ABN Amro, which topped FX Week's three-month forecast rankings.

On August 4, the BoE cut interest rates for the first time in more than seven years to a record low of 0.25%, expanded its quantitative

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