It's decent analysis. Remember though that a huge QE programme is currently on the way and the UK has large foreign FX reserves. So prior to moving interest rat

It's decent analysis. Remember though that a huge QE programme is currently on the way and the UK has large foreign FX reserves. So prior to moving interest rates it's likely the latter will be used to reduce supply of the pound and increase demand. There's a lot they can do to keep the currency stable which is not to say that it won't go lower than its current level. Popular speculation suggests a rate cut in November against market odds or a cut in December...