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Sunday, April 18, 2021

British Pound Hitting New lows

The Pound-to-Euro exchange rate has fallen 3.66% in May while the Pound has fallen 4.25% against the Dollar over the same period. 

It appears that Brexit uncertainty played a hand in the contraction last month, with new orders plummeting in May as retailers sought to sell through inventories stockpiled in recent months in preparation for a no-deal Brexit.

Furthermore the ongoing trade dispute between the US and China doesn’t appear to have done the UK’s manufacturing sector any favours either, further weakening the appeal of Sterling.

Ivy Heffernan
Ivy Heffernan, student of Economics at Buckingham University. Junior Analyst at HeffX and experienced marketing director.

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