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.Â
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.
