dollar: The exchange rate with the US dollar stood at $1.30 last week when Theresa May opened the Conservative party conference and appeared to put regaining control of immigration above staying inside the EU single market free trade area, according to The Guardian. Investors took fright at the prospect of a hard Brexit and the currency has declined more than 6% against the dollar since then. Sterling recorded its worst four-day performance since the Brexit vote as a Bank of England official said he expected the pound to fall further in the coming weeks, driven by the referendum result and the UK trade deficit with the rest of the world. A flash crash last Thursday, when the pound fell by 6% in 10 minutes, heightened concerns that investors had lost faith in sterling as a major currency. However, the pound decline had the opposite effect on the UK leading share index. A year ago a pound bought $1.55.
(news.financializer.com). As
reported in the news.
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