Five minute guide to plunging value of the pound

Five minute guide to plunging value of the pound
 

This is bad news for British holidaymakers as their money will not travel so far overseas, but a boost to UK firms by making exports cheaper for foreign buyers. So what does the crash mean for the pound in your pocket? 
CURRENCY CRASH On referendum day the pound traded at $1.48 and 1.31. By Friday it had fallen 16 per cent to about $1.23 and €1.10. Currency traders were also shaken by an overnight “flash crash”, which saw the pound plunge 6 per cent in minutes. 
Chief trader at Ayondo Markets Jordan Hiscott says sterling has been driven lower by two post-Brexit developments: “The first was... read more

 
9 October 2016 in Business, Views: 55
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