Goldman Sachs says Sterling is not yet cheap. It would have to fall another 10 percent for the underlying current account to go from its current level (-3.0 percent) to -1.5 percent.

 

Earlier, Goldman predicted the sterline would fall nearly $1.20.

 

 HSBC analysts say the sterling will decline about $1.10.

 

However, BNP Paribas thinks exchange rate of the sterling is unfair and it may rise to $1.29 soon. Another French bank Societe Generale announced the sterling will go up in case the exchange rate increases to $1.15.