The pound hit an all-time low last week as the new UK government's tax-cut plans spooked markets. The strong US dollar is a big factor — but Brexit's hit to the UK economy set the stage for the rout. Dollar strength vs pound painThe strength of a country's currency is often seen as an indicator of its overall economic health. The Brexit impactOne way Brexit has hurt the UK economy is the significant fall in immigration from the EU since Britons voted to leave in 2016. "The British labour market was a flagship in Europe: flexible, low unemployment, and with productive labour immigration," Hvalbye said.

Source: News 24 October 02, 2022 20:48 UTC