The Pound has been continuing its slide against the dollar and the Euro, going as low as $1.2253 on the morning of the 7th October. The slide of the pound has accelerated since the Prime Minister, Theresa May, indicated that a hard Brexit, where the UK leaves the single market completely, is a likely option if free movement is not curtailed. The hope from the government is that the falling pound will boost UK exports but worryingly, the UK’s trade deficit widened in August with exports only growing by £100 million pounds from July. The UK has a high propensity to import, meaning that the UK has a large trade deficit which will only grow with a weak pound.

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