Pound Overtakes Argentine Peso to Become 2016’s Worst Performer
- Sterling posts a third week of declines on Brexit vote
- Currency to fall ‘considerably further,’ SocGen’s Juckes says
British Pound Stops Dropping
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The pound posted a third week of declines spurred by the Brexit vote, winning itself the title of 2016’s worst performer among major currencies.
Sterling’s rally on Friday barely dented its 2.7 percent slide versus the dollar in the preceding four days. The U.K. currency this week overtook the Argentine peso as the biggest loser versus the dollar among 31 major peers in 2016 as investors continued to digest the fallout from the June 23 referendum decision to leave the European Union.