GERMANY'S biggest lender Deutsche Bank has branded the pound "irrelevant" following Britain's vote to leave the European Union (EU).
PUBLISHED: 16:56, Wed, Jan 25, 2017 | UPDATED: 18:02, Wed, Jan 25, 2017
GETTY•ALAMY | Deutsche Bank branded the pound 'irrelevant'
The beleaguered firm talked down the value of sterling in a doom-mongering note issued to top investors.
Britain's currency is permanently tarred after the UK voted to leave the European Union (EU), according to one of the bank's foreign exchange strategists.
As a result, the pound is set to lose its prized status as a leading international safe haven currency, said Robin Winklertold.
Sterling is currently among one of the world's top so-called reserve currencies, along with the US dollar, Japanese yen and the euro.
In a damning report sent to the bank's clients, Mr Winklertold said: "The pound’s diminishing role in international capital flows post-Brexit should permanently reduce its reserve status."
The beleaguered firm talked down the value of sterling in a doom-mongering note issued to top investors.
Britain's currency is permanently tarred after the UK voted to leave the European Union (EU), according to one of the bank's foreign exchange strategists.
As a result, the pound is set to lose its prized status as a leading international safe haven currency, said Robin Winklertold.
Sterling is currently among one of the world's top so-called reserve currencies, along with the US dollar, Japanese yen and the euro.
In a damning report sent to the bank's clients, Mr Winklertold said: "The pound’s diminishing role in international capital flows post-Brexit should permanently reduce its reserve status."