British pound undervalued by 15% and could remain so for ‘quite some time’, S&P warns

The report warns that the currency is likely to remain close to its current level for some time after its sharp fall since the U.K.' s Brexit vote in June to leave the European Union. The recent decline in the currency can be attributed both to expectations that the City of London's weight in the U.K. economy will decline somewhat over time as a result of Brexit, and to...