Pound Latest News – Why Has the Pound Fallen?
In times of economic uncertainty, it’s common to see variations between the US dollar vs pound. The UK sterling began falling in the week of the March 16, following an announcement from the Bank of England that all interest rates would be slashed by 0.5 % to 0.25 %. It was on March 18 that the pound to dollar exchange rate was said to have collapsed.
The pound falling is certainly nothing new, although this is a much more significant drop than usual. Following the Brexit vote in June 2016, the GBP experienced one of its biggest drops in recent years. By August of the same year, however, the pounds latest news at the time showed that the sterling drop had recovered and the pound rose to £1.32 against the dollar. UK pound forecast predictions and past economic trends suggest that the GBP will recover once the Covid-19 pandemic calms down. This highlights the importance of acting fast in situations like these in order to reap the full benefit of current investment opportunities.
I’m an Overseas Investor – What Property Should I Invest In?
As always, it’s important not to rush into the first investment opportunity you come across without first researching the UK market. Since the pound is currently low but expected to rise by the time Coronavirus has been resolved, the best move investors can make is to purchase properties in areas that are already displaying a high level of growth. This way, you will benefit from an even higher increase in capital appreciation.
