Dollar: Pound and Shift

dollar: The most notable shift over the last month was a further sharp fall in the value of the pound, according to The Guardian. Against the dollar, the pound is lingering around the $1.22 mark – about 18% lower than on 23 June, the day of the referendum. Although official growth figures to be published on Thursday are likely to show the economy will avoid recession in the second half of the year, the latest Guardian analysis of the post-referendum economy shows a more mixed picture. At one point a flash crash in the currency markets pushed the pound briefly to about $1.15. The Guardian has chosen eight economic indicators, as well as the value of the pound and the performance of the FTSE, to track the economy on a monthly basis. It quickly recovered, but the underlying pressure on the currency has remained following Theresa May declaration that she will trigger article 50 before the end of March 2017. (news.financializer.com). As reported in the news.