Currency Ranked Returns in Great British Pounds – (Bloomberg)
...The pound took a fresh beating yesterday as concerns of currency wars and debasement of sterling led to another sell-off and experts said the currency was at risk of a "large-scale devaluation."
Sterling trails only Japan's yen as the worst performer against a basket of international currencies this year as a 4.5% decline fuels import prices and pushes up the cost of food, insurance and other necessities for hundreds of thousands of households.
As central banks tolerate higher levels of inflation, the pound is set to weaken further across the board particularly against safe haven gold.
UBS warned that the pound seems clearly at risk of following the yen and "suffering the next large-scale devaluation."...MORE
