| Since the EU referendum result, the pound has fallen. But a weaker currency is exactly what the Bank of England wants, says John Stepek. Here’s why. There’s not a central banker in the world who wants a strong currency at the moment.
The US Federal Reserve has held off raising rates because it doesn’t want to see the dollar any stronger. The Chinese want the renminbi to devalue (and they’re quietly, gradually managing it). The Bank of Japan is looking in despair at the strengthening yen. The European Central Bank is crossing its fingers and hoping that the euro won’t rally...............................................Full Article: Source
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