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The fall of the pound

The politics of Brexit are determining the value of our currency

By Duncan Weldon  

©Isabel Infantes/EMPICS Entertainment

Last week’s flash crash, in which the value of sterling fell by 6 per cent in moments before rebounding, has refocused the public’s attention on the pound. But concentrating on a few minutes of drama in the early hours of the Asian markets misses the bigger picture, that of a steady slide in the value of our currency—one driven by politics.

The…

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