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The Times (January 11)

2018/ 01/ 12 by jd in Global News

Driven by the cheap pound, UK factory growth hit a seven-year high. “Factories are growing at the fastest pace in almost seven years after a solid three months to November that beat all forecasts and put Britain on track to start 2018 on a firm footing.” Still, the manufacturing sector “accounts for only a tenth of output in Britain, with four fifths generated by services.”

 

The Economist (November 5)

2016/ 11/ 07 by jd in Global News

“It is rare for a court judgment to cause turmoil in the foreign-currency markets. Yet the pound soared on the morning of November 3rd after the High Court in London ruled that only Parliament has the authority to trigger Article 50 of the European Union treaty, the legal route for Britain to leave the EU.” The decision ignited market hopes “that Parliament might choose to block Brexit altogether or, perhaps more plausibly, that it will attach conditions,” increasing the likelihood of a “soft” Brexit.

 

Wall Street Journal (July 28)

2016/ 07/ 29 by jd in Global News

“Since the 15th century the world has had six unofficial reserve currencies, starting with the Portuguese real. On average they have maintained their leading position for 94 years. The dollar succeeded the British pound 96 years ago, and it has no serious rival in sight.” Today, nearly 90% of global trades involve dollars and, worldwide, nearly two thirds of foreign currency reserves are held in dollars.

 

The Economist (July 2)

2016/ 07/ 03 by jd in Global News

“It is now a week since voters narrowly opted for Brexit, and the country has seldom looked so wildly off the rails. The prime minister has handed in his notice. The leader of the opposition is struggling to survive a coup. The pound hit a 31-year low against the dollar and banks lost a third of their value, before stabilising. Meanwhile there is talk in Scotland and Northern Ireland of secession.”

 

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