Most countries manipulate their currencies – at least a little – but at the moment that’s not the real reason they are undervalued relative to the dollar.
Investors – like everyone else – have little idea of what’s going to happen next and are reacting accordingly.
What looks from the outside like a domestic currency crash is in fact something far more dangerous.
The fate of Bitcoin’s fate is highly unpredictable and dependent on what governments will do in the future.
The way the pound rebounded does not reflect long-term confidence in the currency.
The drop in sterling following Brexit has been as strong as when Germany invaded France in 1940.
A weak pound might be good for exports but it is bad news for the investment that the economy is based on.
Emerging market countries that rely heavily on commodity exports will be hit hardest by Britain’s decision to leave the European Union.