Reported about 23 hours ago
Traders in the options market are bracing for the British pound to potentially drop as much as 8% further, following a significant selloff due to ongoing fiscal concerns. With rising demand for contracts predicting a fall below $1.20 and even $1.12, market sentiment is grim, fueled by investor fears over inflation and borrowing levels. The pound's recent performance has been the most troubling among major currencies, and while some strategists maintain a cautious outlook, others warn that the current weakness may not be over.
Source: YAHOO