The pound’s latest slump is unlikely to provide a fillip to U.K. exporters, if recent history is a guide. Sterling’s decline after the 2016 European Union referendum, which coincided with a period of global strength, didn’t see the economy enjoy a boost from net trade. Now, with world demand on a downturn, it will be even harder to reap the benefits of a weaker currency.
To contact the reporter on this story: Fergal O'Brien in Zurich at fobrien@bloomberg.net
To contact the editors responsible for this story: Craig Stirling at cstirling1@bloomberg.net, Brian Swint, Zoe Schneeweiss
