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Why hammered sterling is set for more pounding
Sterling is being pounded and it's set to fall further, according to Alan Collins from 3c analysis. He's targeting the pound dollar cross again this Wednesday even after it posted three year lows. Weak manufacturing data has sparked more expectations of further monetary easing by the Bank of England.
Alan points to four technical reasons why sterling has further to fall. Any rallies, he says, are going to remain limited. Adding to the pressure is the strength of the dollar on expectations the Fed will taper its bond buying programme sooner rather than later. Sterling is down nearly 10% against the dollar since the start of the year.
00:57 minutes
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