RE: Lovely liz2 Oct 2022 16:19
Brexit was fueling the UK currency's longer-term decline long before it plummeted to a record low on Monday, analysts said. It has hit the country's labor market and trade, and has contributed to rising inflation — weighing heavily on the UK's economic health.
"Brexit was always going to be a negative for the economy and the pound in the years immediately after leaving," Oanda market analyst Craig Erlam told Insider.
"It's impossible to quantify the role of Brexit in the pound's devaluation over the last six years. But it's clear that until now, it's done the UK economy no favors," he added.