By last night the FTSE had pulled back all of the losses of earlier this week and was back around 6350 points. Sterling staged a bit of a rally ending the day at about $1.345 but nowhere near the high of $1.50 reached last week and still therefore 10% down.
I note it is already slipping again this morning. An expert at the treasury select committee this week said the pounds fall was consistent with a value of $1.20 by the end of the year. This would be a disaster.
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