HSBC strategist David Bloom forecast a fall to $1.10 by the end of next year.
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Sterling lost as much as 10 percent of its value in just a few minutes of trading early Friday, a "flash crash" that fueled concerns about the vulnerability of the currency and other British assets to investor worries about Brexit.The FTSE 250 index of medium-sized U.K. firms, typically more dependent on the domestic market, fell for the third day running after hitting an all-time high Tuesday.Retailer Sports Direct said the overnight move in sterling, after it had entered into a hedging agreement to protect against weakness in the pound, led to a 15 million pound dent in its full-year earnings forecasts.The pound also fell more than 2 percent to 90.23 pence per euro, its lowest in almost seven years after moves overnight that mirrored those against the dollar.Sterling-denominated gold rose to its highest since mid-July at 1,059.06 pounds an ounce overnight, despite a near 5 percent drop in spot gold prices this week.
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