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The pound has already fallen off one cliff, but it is about to fall off another

Deutsche Bank is backing the pound to slump even more in the coming weeks, pushing the UK's currency even further into record lows. In the bank's weekly equity strategy note, titled this week "Don't exit the Brexit trades" — Deutsche's strategists Wolf von Rotberg, Sebastian Raedler, Tom Pearce, and Andreas Bruckner argue that despite crashing almost every day for the last two weeks, sterling actually still remains substantially overvalued, pointing to even more drops in the pound's value.
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