Goldman Sachs Group Inc. is doubling down on its call that the pound has further room to depreciate. While some analysts' currency-valuation models show sterling looks cheap after hitting record lows, examining the pound from a perspective that incorporates Brexit's impact on trade and the wider economy paints a different picture, Goldman argued in a note published last week. On that basis, sterling is still overvalued by as much as 10 percent, according to Goldman analysts Robin Brooks, Silvia Ardagna and Michael Cahill.Sterling depreciation through October has probably taken the U.K.'s underlying current-account ... (full story)