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The pound won’t stop plummeting any time soon

And this slump is not stimulating growth—meaning Brexiteers don’t have a leg to stand on

By George Magnus  

Photo: Matt Crossick/Matt Crossick/Empics Entertainment

A year ago, Sterling was still worth €1.15. On holiday in Italy these last two weeks, I was aware that my pounds were buying fewer and fewer Euros by the day, and my latest credit card statement shows transactions including handling fees, such that the effective rate I was paying was about €1.05. At one airport on Saturday, I saw the currency exchange rate lit up on a screen at 1:1. A number of currency analysts have lowered their predictions, for what they’re worth, to…

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