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Sterling dropped to trade just below $1.23 Tuesday as senior officials and investors pointed to the potential for more falls in a market still trying to recover from Friday's 10 percent flash crash.All of that kept the trade-weighted sterling index at nearly-eight-year lows.The major banks have stuck to forecasts of around $1.20-1.25 for sterling, but Friday's apparently computer-trader-driven 10-minute slide to a 31-year low of $1.1491 has some wondering if a drop closer toward parity is likely.Worried by the outlook for capital flows, Deutsche Bank strategist George Saravelos has been predicting a drop in sterling to $1.15 since last year, and he said the pound might now get there faster.
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