An option model on the pound shows there’s a high probability of the currency dropping to a 37-year low. The measure is indicating a 60% probability that the pound will fall to $1.14 by the end of the year, which would be the lowest since 1985. The Bloomberg model uses volatility data and economist forecasts to calculate implied currency levels in the future. With the economy hurtling toward recession, energy prices continuing to skyrocket and uncertainty hanging over who will be the next prime minister, there’s a long list of reason to be bearish on the British pound. The currency has lost 12% against the dollar ... (full story)