The pound / dollar exchange rate bounced on news that Boris Johnson has announced he will not seek leadership of the Conservative party, and the prize that comes with it, that of inheriting the post of Prime Minister of the UK.
British 10-year government borrowing costs sank below 1% on Monday for the first time ever and sterling tumbled to a fresh 31-year low against the dollar as investors bet Britain's vote to leave the EU will trigger a Bank of England rate cut. Billions ...
A falling British pound is not necessarily a bad thing, as basic economic theory would suggest that a lower exchange rate encourages the purchase of more British goods, helping the UK to start improving its trade balance with the world once more.
Economists and celebrities agree: Britain's vote to leave the European Union was a terrible mistake. Comedian/civics instructor John Oliver has devoted a couple of segments to the dire effects to come, while Lindsay Lohan made her “Remain” case on Twitter.
Sterling fell more than two per cent, the euro took a hammering and stocks dropped again on Monday as Britain's vote to leave the European Union drove investors to seek safety in the yen, gold and low-risk government debt.