Volatile, falling and unstable, sterling evokes prior UK and emerging FX crises
Sterling's slump to its lowest in more than 30 years against the dollar this week in increasingly volatile trading has raised fears Britain's exit from the European Union could yet trigger a currency crisis like those of 1967, 1976 or 1992.
By some measures, such as the speed of the losses and volatility of its market trading, the pound is showing crisis-like symptoms. Most market observers expect it to fall further on the foreign exchanges before it stabilises.
But for a classic 'currency crisis' to unfold, sterling losses would have to choke off the foreign portfolio investments critical... read more
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