Home Headline News British Pound Hitting New lows

British Pound Hitting New lows

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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.

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