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image: Luke MacGregor/Reuters

The ‘unraveling’ pound is on its worst run since the financial crisis — and it’s only going to go downhill

August 16, 2018

LONDON — The pound is on its longest losing streak against the dollar since the depths of the financial crisis as a perfect storm “unravels” the UK’s currency.

After a strong start to 2018, the pound has slumped in recent months and is traded below $1.27 for the first time in 14 months on Wednesday. Sterling hit a low of $1.2669 during mid-morning trade.

By losing ground on Wednesday, the pound marked 11 consecutive days of losses against the dollar. That is a losing run not seen since 2008 during the depths of the global financial crisis.

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