Chart of the week: sterling’s sea of troubles

Sterling slipped to a two-year low against the greenback this week; it remains around 12% below its pre-referendum level. A strong labour market report should have provided support, but the good economic news was eclipsed by the growing possibility of a no-deal Brexit after both Jeremy Hunt and Boris Johnson said they wanted to ditch the Irish backstop.

A general election and a Corbyn government could follow Brexit, which is another key reason the pound is weak. The decline in...
source: Money Week

2019-07-22 09:53
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