In the immediate aftermath of the EU referendum, with concerns about the near-term economic outlook at their height, the prospect of a sizeable fiscal stimulus package being included in the Chancellor’s Autumn Statement looked odds on.
The precipitous fall in sterling since 23 June, which has seen only the Mozambique New Metical and the Sierra Leone Leone perform worse, was a predictable response to the referendum outcome to leave the EU.
The past week has seen sterling perform the worst of all the world’s currencies. And with the UK Government seemingly careering headlong into a hard Brexit, it looks set to fall further from here.
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