FILE PHOTO: Pound coins are seen in this photo illustration taken in Manchester, Britain September 6, 2017. REUTERS/Phil Noble/File Photo
But fears of a second wave of infections in Britain, already the hardest-hit European country, have capped the pound’s advance and according to a new study published on Tuesday a resurgence of the pandemic could be twice as bad as the initial outbreak. The July 31-Aug. 5 poll of around 60 foreign exchange strategists said the pound would dip to $1.29 in a month and to $1.28 in three months before returning to current levels in a year’s time. It was trading around $1.31 on Wednesday.
“I lean towards a deal, but it doesn’t mean the same euphoria for sterling as it used to. The deal will be bare bones - it might be that in Q1 we are still adjusting to a new trading agreement and you do see all of the foretold Brexit border chaos.”Reuters polls since the June 2016 referendum to quit the EU have consistently said the two sides would eventually agree a free-trade deal, but talks have been troubled.
Those who said we should remain can rightfully say “we told you so,” leavers will say “fake news” Meanwhile, the pound in our wallets goes less and less far every day.
BLUE PASSPORTS
Still no reaction to this news
Ya think? The only saving grace is the dollar is nosediving.
There is nothing unusual about that. Sterling has been devaluing against the $ & other world currencies since I left school. I remember it at 2.4O$ to the 1£. It is now about half value.. at $1.25 to £1. We devalue annually. It's Govt Incompetence. Moral: Don't save. Don't work.
all currencies will drop this year
Have the new £20’s made their way to the US for foreign exchange?
That still happening?
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