Sterling facing woes as it runs out of friends

Sterling is quickly running out of friends. And its biggest enemies see the British currency falling to levels last seen during the reign of Margaret Thatcher.

Deutsche Bank last year was already predicting a plunge in 2016 to $1.27, a level that has not been seen since 1985, when the Live Aid charity concert was rocking north-west London and England’s football teams were banned from European club competitions.

The world’s second-biggest currency trader’s view has been joined by a growing number of bears this year.