How Brexit Ravaged the Once-Mighty British Pound

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However, many analysts predict the value of Britain’s currency will dip further in the months ahead, as Britain heads toward what looks likely to be a disruptive and unpredictable no-deal Brexit, with the country reverting to World Trade Organization rules on border controls. Some, though not all, suggest the British pound could eventually end up at parity with the U.S. dollar.

That would be a remarkable, unprecedented change for the pound. In the run-up to the June 2016 referendum, the pound-to-euro rate was about 1.32 euros, while the pound was approximately $1.50 against the U.S. dollar. In the years before the 2008 financial crisis, the British pound was stronger still, peaking at around 1.50 euros and $2.11.

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