FX.co ★ Goldman Sachs expects sterling to slid by 25%

Britain’s national currency could slump by 25% against the US dollar by the end of 2016 on the back of economic struggles caused by the country’s vote to leave the European Union, Market Watch reported on October 14 referring to Goldman Sachs' report.
Experts at Goldman Sachs listed five reasons behind the weakening sterling. These factors include difficult negotiations between the EU and the United Kingdom on the Brexit terms, weaker economic data from the country, inefficient monetary policy, a possible interest rate hike by the Fed, and history. The pound has already plummeted by 25% eight times.
As of 18:30 GMT+3, October 14, the British pound was worth $1.22. The sterling lost 0.6% in comparison with the previous closing price.
On October 12, a trade-weighted index measuring the pound’s strength against a basket of its trading peers crashed to a 168-year low, its lowest on record. The index took a nosedive to 73.38.