Sterling has now lost almost a fifth of its value since the outcome of the Brexit referendum became known, and it’s currently trading at £1.22 – its lowest ever since 1982.
The pound is most certainly in freefall, as uncertainty in the markets and fears of a ‘hard’ Brexit take hold and the uncertainty within the political ranks.
As Fernando Sanchez reported, British Prime Minister Theresa May encountered tough opposition during her first EU summit, in which she was informed in no uncertain terms by Angela Merkel and Francois Hollande that Britain faces a ‘rough’ and ‘hard’ negotiation when the Brexit terms are scoped out.
But optimistic figures who were part of the Brexit story claim that this is a short term blip and that the UK will boom as a result of Brexit very soon.
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