The Trader 

Sterling’s struggle is stock market strength

The Trader

Sterling’s struggle is stock market strength

The usual screaming headlines chosen to promote a point of view. As cable drops this week to its weakest ($1.2117) since March 2017, too many are extrapolating current losses ad nauseam. Boris Johnson’s personality, his serious threat of a ‘no-deal’ Brexit, his combative stance towards the powers that be in the EU, all are used to weaponise the exchange rate. He may not be causing the selling, and who knows whether he wants it, but he’s certainly not alone in seeing a weaker currency as helping exports and the economy – although not necessarily the consumer, of course.

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