Analysis: What are the implications for retail as sterling takes a pounding?
The new government’s mini-budget last week proved to be anything but. Indeed, it was so dramatic that it has spooked financial markets and sent the pound to record lows against the dollar.
Sterling recovered a little subsequently, but a period of volatility looks certain and brings another headache for retailers and their customers, who are already buckling under the cost-of-living crisis. From buying to refinancing, we consider some of the implications of the pound’s plunge on the retail industry.
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