Said all the headlines last week. The BBC goes with Pound hits lowest level against dollar since 2009.
As per usual it is a load of flummery. I've done some charts showing each currency against a basket of other major currencies (the vertical scale is arbitrary, the long run average for each is about 1).
It is true that GBP has fallen again recently, but it's still well above its low point of 2011:
Here's the chart for EUR for the same period, in relative terms, EUR has fallen against GBP over the five years, from 90p at the peak, down to 70p and then a recent uptick to nearly 80p:
If anything, it is USD which recovered, from a low of 62p (which happens to be the average since 1990) up to 72p today:
Debate Magazine
