| The pound touched a historic low against a basket of global currencies, meaning it has likely never been weaker when measured against those of Britain’s trading partners. While the pound recently traded at a 31-year low against the dollar, and a six-year low against the euro, on Tuesday it hit its weakest level ever against a trade-weighted basket of currencies.
The Bank of England’s Broad Effective exchange-rate index for the pound shows that the currency is worth less now than it was at the height of the 2008-2009 financial crisis or in 1992 and 1993, in the aftermath of Black Wednesday, when sterling left the European Exchange Rate Mechanism............................................Full Article: Source
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