The pound is looking increasingly cheap.
The currency is currently undervalued by almost 19 percent against the dollar and by 8 percent against the euro, according to the Big Mac purchasing-power parity model. Underwhelming U.K. economic data and the dwindling prospects of interest-rate hikes from the Bank of England have driven sterling to the lowest level this year at around $1.33.
Cheap Pound
Sterling is the most undervalued Group-of-10 currency barring the yen
Source: Bloomberg
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