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The politics behind pound sterling's volatile week

14 October 2016

The pound has lost nearly 18 per cent of its value against the dollar since Britain voted Brexit, two per cent more than during the 2008 financial crash. On Thursday it reached its lowest point for 168 years. ''Movements in sterling in the past week have made it clear that news which increases the probability of a 'hard Brexit' reduces the value of the pound,'' Dr Thomas Sampson, an economics lecturer at the Centre for Economic Performance at LSE, told i. ''This reflects concerns that a 'hard Brexit' will increase the costs of trading with the EU and reduce the UK's output and living standards.''

This article was published by iNews on October 14, 2016
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Related publications
Brexit: the impact on UK trade and living standards, Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen. Article in CentrePiece Volume 21, Issue 1, Summer 2016
The Consequences of Brexit for UK Trade and Living Standards, CEP Brexit Analysis No. 2 by Swati Dhingra, Gianmarco Ottaviano, Thomas Sampson and John Van Reenen, March 2016

Related links
Thomas Sampson webpage
Trade Programme webpage

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