After sterling slumped to a two-year low as the threat of a no-deal Brexit looms ever larger, Retail Week analyses what retailers can do to mitigate the pain of a weak pound.
New Prime Minister Boris Johnson’s premiership has gotten off to something of a rocky start. This morning, less than a week after being handed the keys to 10 Downing Street, the value of the sterling hit a 28-month low of $1.21 against the American dollar and also slid against the Euro, falling as low as €1.08 at one point.
This month alone, the pound has dropped by more than 4%, representing the worst month for Britain’s currency since October 2016.
The plummet in the value of sterling has been driven by the bellicose rhetoric of Johnson’s new-look cabinet and the Prime Minister himself – who has repeatedly stated that the UK will be coming out of the European Union on October 31, with or without a deal.
Please sign in now if you have a subscription or are already registered with us.
Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.
Register today for a taste of our high-quality intelligence and enjoy:
Discover Retail Week register now
Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.