The writer is founder and chief executive of Longview Economics
Like many major currencies, the pound has fallen sharply over the past 12 months. It has dropped from as high as 1.40 against the dollar in the middle of 2021 to 1.15, fractionally above its March 2020 pandemic lows.
Other than briefly in the mid-1980s, it’s never been weaker. Indeed, after a year of trending lower, various sentiment and technical models, not surprisingly, suggest the downside to the pound is now limited.
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