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What the pound's fall means for you

Sterling's downward plunge has implications for various industries and assets, and the investors who put their money into them
October 13, 2016

Just after the vote for Brexit the pound was in turmoil and fell about 11 per cent. Now, sterling is falling again and last week fell to its lowest level in more than 30 years. This was triggered by the prime minister dispelling any idea that the UK was going to backtrack on Brexit and revealing a deadline for setting the process in motion. A so-called 'flash crash' at one point dragged the pound down to $1.18, and although it has recovered it is likely there will be more turbulence ahead.

 

The winners and losers

Foreign tourists are big winners, so UK tourist attractions, and other parts of the leisure industry such as restaurants and hotels also benefit. Other winners include anyone in a hurry to sell a UK asset, such as a house or a company, while exporters now have more competitive goods to sell.

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