Despite UK ‘turmoil’, sterling has never been more stable against the euro
The UK is, President Trump kindly informs us, in turmoil. In Westminster, there is feverish talk of a leadership challenge. The economy is in a state of peak Brexit uncertainty. The trade deficit has worsened yet again. An increasingly bitter trade war is battering Britain’s FTSE-quoted commodity giants.
In the past, sterling, as the barometer of the nation’s international standing, would have collapsed in value in such a crisis. Yet for the last year the pound-euro rate has never been more stable.