The pound is falling after S&P downgraded the UK

The British pound is falling after the S&P downgraded the UK's credit rating to AA from AAA, with a negative outlook.
The pound is down by about 3.8% at 1.3165 the dollar as of 1:43 p.m. ET.
The currency has been hit hard in the aftermath of the Brexit vote. The pound down by over 13% since Friday.
Separately, George Soros, the billionaire who earned fame by better against the pound in 1992, didn't bet against the currency this time around.
As for the