UK: Pound drops to 31-year low against dollar on Brexit fears

UK: Pound drops to 31-year low against dollar on Brexit fears

The British Pound is at its lowest level against the dollar for 31 years.

The drop is the result of growing fears of a so-called “Hard Brexit” and that Britain will be forced out of the European single market during negotiations to leave the EU.

Al Jazeera’s UK correspondent, Barnaby Phillips reports from central London.

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idot says:

I have a great idea: how about all of the counties who voted leave join up in one big shitfest of a country, and the counties who voted remain join into one country and remain in the EU, and create separate currencies for each country! Also, it would finally be an excuse for northern Ireland to become independent/join the rest of Ireland, and Scotland can separate from the UK. Everyone's happy then. Oh, and don't forget to build a huge concrete wall through the middle of London, and high security fences along the boarders of each country. Then, in 40 years or so, the people will protest against the governments and finally break down the wall and Britain will be reunited again. That sounds like a good plan. I think I might start my own political party and run for prime minister in the next election.

Ringlet says:

I remember my dad telling me a dollar was worth five shillings, that means there was four to the pound and I believe that I am now better off than him.

squizza28 says:

This is the first time we've had a definite announcement about when article 50 will be triggered, and that we want total control of immigration into the UK on rules made by us. Due to dogma, the EU won't accept this as it goes against their project of EUSSR. And we won't be "forced out" by anyone – we are the UK and we bow to no-one – but it's likely we'll choose not to be members of customs union / single market and have access on WTO terms until EU negotiates a deal with us on tariffs we impose on EU goods. The uncertainty is certainly hitting the EU at the moment, they could end it now by agreeing a free trade deal with us. Of course it's their choice, with EU unemployment so high.

D90Girl says:

Fear mongering brought to you by the Press……

RickyPro says:

London should break away from England and join the EU because more than 70% voted stay in greater London

RickyPro says:

Hey Brexit… Doesn't seem like such a good "idea" now does it?

Everything Cool says:

why cant we allow the use of other country money for the time being it will make people feel better

Everything Cool says:

wow i must be hard no to steel sheets and sheets of 50 but the reason they do not because the people who legally print money get paid a lot and taken some would get them fired and arrested

Brad Ennis says:

this makes no sence

Jerell says:

This report tries to propose Brexit as the cause of the devaluation of the Pound what the neglect to mention was the cut in interest rates immediately after Brexit. Easy credit leads to an inflated money supply and the devaluation of the Pound.

Sibling Anon says:

I love how every report is focused on how badly the british economy is going to be affected. There is hardly any talk on how the eu economy is going to be affected. It is as if an economy of several hundred million people can do without Britain far better than the other way around. The focus of every news story and every commentator from every side since pretty much proves in itself how stupid the brits were. Remember mister f talking about the first brick that brings the eu down? Since then it got a bit silent…

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