history of sterling

Sterling on the Rocks

October 11, 2016

From a high of $1.5019 on the day of the June Brexit referendum to a low of $1.1807 last Friday, sterling fell over 21% in less than four months. Concern about Brexit’s short- and long-term possible damage to the British economy and political stability were the cause of this still on-going correction. It remains to be […] More

A Long View of Sterling

June 6, 2012

Before the dollar assumed the role of international currency hegemon, the British pound commanded that position and was worth around 4.85 U.S. dollars over several decades bridging the 19th and 20th centuries when the major economies of the world operated on the gold standard. Gold standard rigidities were an important contributing factor to the Great […] More