British pound bound to go down -

The British pound is bound to go down further , this I can say because there are quite a few reasons why ihas slid so much and will do in the future. Firstly there are signs of economic slowdown in the region. There were also reports that the expansion in the region has painfully been slow in 1 1/2 years last quarter and also that Britain's trade deficit has been large than what was expected by the economists. It is likely that the pound may not deteriorate a lot due to speculations that the Bank of England will be raising interest rates in the next year too, causing the pound to appreciate . I feel that pound may not decline drastically , since an interest rate rise is also possible in November to 5 percent from the present rate of 4.75 percent.