Will the falling pound drop further?

Will the falling pound drop further?

Will the falling pound drop further?

Written by Keshala Dias

18 Oct, 2016 | 5:45 pm

Since the UK voted to leave the European Union on June 23, the British pound has dropped by 14% against the U.S dollar.

Analysts expect it will drop further from current levels.

The pound is falling and investors are worried the UK could slump into recession due to the huge economic and political uncertainty triggered by the vote.

Surveys published since the referendum suggest consumer confidence has collapsed as well.

However, this is great news for foreign tourists visiting the UK but not for the Brits as prices of vacations and gadgets are already going up.

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