Best way to hedge the pound?

I want to hedge against any additional losses in value to the pound sterling.

This is not so much a trading strategy so I can make significant profit, it's more to protect my savings from additional depreciation (all my savings are in GBP and I live in the UK). Given the current economic volatility, I've decided against buying an asset like property for now.

So any suggestions on what might be the best way for savers to protect their losses from the impact of a weakening currency and an economy where interest rates will be almost nil.

Diversifying and investing in gold is one option. But are there particular ETF's that come highly recommended?

Also, Dukascopy Bank in Switzerland offer current accounts where the account holder can apparently hold their funds in a range of different currencies and gold (https://www.dukascopy.com/swiss/english/banking/savings-account/). I believe the cost of moving your funds from one currency to another is the spread that the bank lists on its website. That sounds like a good option, but would be great to get further feedback on whether there are better courses of action, or indeed if anyone has opened a multi-currency account and what their feedback is.

Thanks!

If you live in the UK and your expenses are in pounds then hedging against a decline in sterling exchange rates might not do much for you. If you had expenses in another currency, it would be a different situation.

If you're worried about domestic inflation, then you may be better off looking at the UK rates market as rising inflation would push Gilt prices lower.