Goldman Sachs on the pound:
With the prospect of a ‘hard Brexit’ becoming a reality, investors who were previously expecting a ‘soft’ Brexit, or no Brexit at all, have updated their priors, and Sterling has depreciated about 5 percent over the space of a week against G10 currencies. GBP/$ is about 1.5 percent above 1.20, which is our 3-months forecast published on 5 July 2016.
