| The pound has been steadily falling as the Brexit referendum and Bank of England’s moves to shore up the economy have pushed investors into selling the pound. Its downward slide over the last 12 months means sterling is now worth 16 per cent less against the dollar, at £1/$1.31, compared to £1/$1.56 previously. It’s even weaker against the euro, having fallen 18 per cent in the last year, down to £1/€1.18.
The pound fell again as the Bank of England announced a batch of measures to prevent the emergence of a post-Brexit crisis. Everyone’s agog at the impact of the rate cuts, but the relative strength of sterling has a considerable effect on our economy too...............................................Full Article: Source
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