Currently trading just above $1.26, the British Pound is losing ground against all major currencies, as the effects of Brexit-driven economic uncertainty and a slowdown in internal demand and exports, start to be felt.
Yesterday’s publication of economic data, including industrial PMI’s, pointed to a decline in manufacturing activity, which happened for the third time in a row. The release of this latest set of data accentuated the gloomy outlook for the British economy and the Pound’s decline could become even more pronounced if investors keep turning their backs to Sterling, put off by Brexit-related uncertainty.
Photo by John Cameron.
