In recent days, the exchange rates of the UK Pound against the Euro, US Dollar and Japanese Yen have been varying quite bit. Against the US Dollar it has appreciated quite a bit whereas against the Euro it has lost value.
I guess in such matters one has take a long view. Against the Euro I doubt things will be clearer until the end of 2020 when the EU-UK transition period ends. Against the US Dollar I guess a lot hinges on the Presidential election in November.
The more immediate issue is the Covid-19 pandemic which rather turns things on their heads. The whole world faces the prospect of high unemployment and recession. We are in for hard times ahead. Let us hope we all emerge into a kinder, cleaner world. Things will change. This is a wake-up call for us all.
27 Jul 2020
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