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This week, stocks and high yielding currencies are having substantial losses as investor’s express their concern about future earnings. For instance, the [Dow Jones Industrial Average](301 Moved Permanently Jones Industrial Average) fell more than 300 points since Monday. So, given the current global macro environment of uncertainty and de-leveraging in financial markets one should expect additional pressure on politically unstable currencies like the British Pound against safe-haven currencies like the US dollar and the Japanese yen. Yesterday, the British Pound sold off sharply after the Bank of England revised its UK GDP forecast and UK inflation rateoutlook lower. Today, there are less event-risks but I expect the British pound to remain under selling pressure.