NEWS… BUT NOT AS YOU KNOW IT
In the dynamic and often turbulent sea of foreign exchange, no other major currency has faced as dramatic a voyage as the pound sterling over recent years.
MoneyTransferComparion’s Alon Rajic, the managing director of the company which has assisted expats and businesses to transfer more than £1bn since its inception, says that the tides have changed for pound sterling and that it is “destined to rise again in the near future”.
As a bit of a recap, we take a look at the major sterling events which had a tremendous and profound impact on its performance.
Following the Brexit vote in 2016, the pound suffered a significant devaluation. Overnight, the value of sterling slumped to a 31-year low, tumbling over 10% against the US dollar to 1.33. For a brief period, Bitcoin’s 10-day historical volatility even fell below that of the British pound.