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Why Has The Pound Dropped So Much In Value?

Why Has The Pound Dropped So Much In Value?
Asked by
Djamel Brahimi categorie-icon time-icon3 months ago
1 Answer Answer Question

Sam Bouman
Answered time-icon3 months ago

The pound has been on a massive losing streak as of late, and this can be attributed to none other then Brexit.

Sterling has fallen for the ninth consecutive day against the euro as PM May is facing renewed calls from the conservative party to step down. So with Brexit being one major factor in the pounds decline there is also the other factor which has affected markets on a global scale which is the US and China trade war.

So with Brexit it seems that time is running out for Theresa May and the fears are that she will be replaced with a more hardline Brexiteer who could potentially take the country out of Europe with no deal in place, judging by the recent polls for the European elections it seems like a real possibility with the Brexit party leading the way.

May announced this week that she will put her Brexit deal back to a vote in the week beginning June 3rd but most believe she wont be able to secure the support she needs to have it passed paving the way for a potential no deal Brexit and this is the reason we have seen such a rapid decline in the pounds value and potential further falls to come. 

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