The value of Sterling against the dollar has dropped for 9 consecutive days since August 24th, breaking the record for the longest continuous decline of currency since 2008. Even if the European Central Bank on Thursday hinted at the expansion of the QE, the pound will have no improvement over the euro, and will continue to have lowered in value for five consecutive weeks
Britain’s increase in interest rates is expected to support the pound against the dollar. At the end of August, the value rebounded to above 1.58, and in the vicinity of the struggle is now 1.52. The euro has been against the pound for 5 consecutive weeks, the longest rebound since 2012. The exchange rate of Sterling is currently more than 3% of the median value of the survey from the Bloomberg News agency.
Standard Chartered Bank G10 currency strategy director Steve Barrow pointed out that after the May election, a sell-off would be extremely heavy.
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