The pound will remain volatile amid uncertainty over when the U.K. will leave the European Union (EU), the U.K. chairman at KPMG told CNBC on Friday.
"There's nothing sort of implicitly good for the pound at the moment, and there's volatility," Simon Collins said on CNBC's "The Rundown."
"What we're telling our clients who are sterling denominated, at the moment, is we think sterling is a little bit undervalued, but don't expect it to stop being volatile anytime soon."
In the wake of the U.K.'s June 23 referendum vote to exit the EU, the pound tumbled from as high as $1.5018 to as low as $1.1450 earlier this month, Reuters data showed. That marked sterling's lowest level since 1985, when the pound neared parity with the U.S. dollar amid an acrimonious miners' strike in the U.K.
At 10:21 a.m. HK/SIN, the pound was fetching $1.2238.
Collins noted that the uncertainty was heightened by the lack of Brexit negotiations as of yet.