gotlost
Kap Chong R Us Member
Pound is second-worst performing currency in the world
Holidaying abroad or maybe already an expat? Either way, your dosh is under the cosh
David Buckley
The pummelled pound is going to continue to be battered in the short-to-medium term under either Boris Johnson or Jeremy Corbyn, says the chief executive officer of one of the world’s leading financial advisory organisations.
Nigel Green, the founder and CEO of the deVere Group*, spoke out after sterling dropped more than 4% on Tuesday in its worst month since October 2016 on an increasing probability of the UK leaving the EU on October 31 in a no-deal Brexit.
Green said: “The British pound is now the second-worst performing currency in the entire world. There is no end in sight to the embattled British pound’s plight with both the current Prime Minister Boris Johnson and the leader of the official opposition Labour leader Jeremy Corbyn promoting policies that will deliver fresh – and serious – blows to the currency.”
He continued: “Mr Johnson is ramping up no-deal preparations and it looks increasingly likely the UK crashes out of the EU in a no-deal scenario in October. Even though this has largely been priced-in by the markets, there can be no doubt that it has also intensified uncertainty and, in response, the already weak pound fell and continues to flounder.
“We can expect this to continue as the Johnson administration takes brinkmanship with the EU to a higher level, the closer we get to the Brexit deadline. Should the UK leave with no deal, the pound can be expected to remain weak for several years until the country and the bloc readjusts.”
Full story: https://londoninspire.co.uk/pound-is-second-worst-performing-currency-in-the-world/
-- © Copyright London Inspire in Thailand
Follow London Inspire on Facebook
https://forum.thaivisa.com/topic/1114930-pound-is-second-worst-performing-currency-in-the-world/
Holidaying abroad or maybe already an expat? Either way, your dosh is under the cosh
David Buckley
The pummelled pound is going to continue to be battered in the short-to-medium term under either Boris Johnson or Jeremy Corbyn, says the chief executive officer of one of the world’s leading financial advisory organisations.
Nigel Green, the founder and CEO of the deVere Group*, spoke out after sterling dropped more than 4% on Tuesday in its worst month since October 2016 on an increasing probability of the UK leaving the EU on October 31 in a no-deal Brexit.
Green said: “The British pound is now the second-worst performing currency in the entire world. There is no end in sight to the embattled British pound’s plight with both the current Prime Minister Boris Johnson and the leader of the official opposition Labour leader Jeremy Corbyn promoting policies that will deliver fresh – and serious – blows to the currency.”
He continued: “Mr Johnson is ramping up no-deal preparations and it looks increasingly likely the UK crashes out of the EU in a no-deal scenario in October. Even though this has largely been priced-in by the markets, there can be no doubt that it has also intensified uncertainty and, in response, the already weak pound fell and continues to flounder.
“We can expect this to continue as the Johnson administration takes brinkmanship with the EU to a higher level, the closer we get to the Brexit deadline. Should the UK leave with no deal, the pound can be expected to remain weak for several years until the country and the bloc readjusts.”
Full story: https://londoninspire.co.uk/pound-is-second-worst-performing-currency-in-the-world/
-- © Copyright London Inspire in Thailand
Follow London Inspire on Facebook
https://forum.thaivisa.com/topic/1114930-pound-is-second-worst-performing-currency-in-the-world/
