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So wrong- please amend your post.
21st June 2016, £1= $1.5
12th March 2017 £1= $1.19
*An Official Foo-Approved guitarist since Sept 2023.
You've also cherry picked your figures using 12th March. A couple of days ago it was $1.249 on the BBC website.
I don't doubt that Brexit has played a part, but most of the movement is currency speculation by the markets.
And, also from DB who have almost bankrupted themselves this year.
*An Official Foo-Approved guitarist since Sept 2023.
cycles and trends (i.e. recorded real data) are not evidence?
the pound dropped MORE before the Brexit vote, and has recovered considerably from the speculative run that happened after the vote
So, you're only interested about the exchange rate on 27th June 2016?
When I googled it there were a number of other articles on the pound being over valued at that time.
I'm sure that you can find some others who will say the opposite. After all Osborne managed to find some economists who convinced him we would need an "emergency budget" if we voted out. He also found economists who said we would be £4k per household better off staying in a doomed organisation.
It's impossible to know how much of it was the pound being overvalued before hand, and how much is market speculation, but to blame everything on Brexit and then cherry pick figures from 2 weeks ago when the pound was nearly 6 cents lower than the current value is being over simplistic.
the peak value of the £ against the dollar since the 2008 crash was $1.71 in July 2014
it went down to $1.47 in April 2015
that's a drop of 24c
by 27th Feb 2016 it reached under $1.39
that's a drop of 32c since 2014
NOW it's just under $1.25
so that's 14c lower than the dip BEFORE the Brexit vote
So:
£ loses 32c BEFORE Brexit
£ loses 14c AFTER Brexit
and your conclusion is that Brexit is solely responsible for the £ losing value, even though it started dropping 2 YEARS before the Brexit vote
Explain to me again how the unexpected Brexit vote CAUSED the £ to drop for 2 years before the vote actually happened
*An Official Foo-Approved guitarist since Sept 2023.
http://www.thefretboard.co.uk/discussion/57632/
Well worth setting up an account there for those things you want at some point but its not time critical but you'll buy it when it's cheap.
Last time I was in, he told me he'd just ordered a Private Stock PRS - so at least he's supporting the guitar trade....