Pound drops to lowest level in two years – comments

This morning the pound dropped to lowest level in two years amid a no Brexit deal. Markus Kuger, Chief Economist at Dun & Bradstreet said: “While the UK’s long-term economic potential exceeds that of most other European economies and the overall rating is low risk, we have issued a ‘deteriorating’ outlook amidst continuing uncertainty and fluctuations in the value of Sterling. Following the appointment of a new Prime Minister, we believe there is an increased risk of a no deal Brexit in October and that a general election before the end of the year is likely.

“With so much still on the table, planning for the various potential Brexit scenarios is a daunting task for many businesses. Having a full view of all existing customer and supplier relationships to assess potential impact and identify new opportunities will be key to ensuring successful business performance.”