The UK was a very different place the last time the pound was worth so little against the dollar. It was 1985, and Vodafone had just launched the UK’s first mobile phone network, football hooliganism was rife and the Anglo-Irish Agreement had laid the groundwork for devolved government in Northern Ireland more than a decade after a previous power-sharing executive had collapsed.
Fiscal stimulus plans have raised questions about the financing of the UK’s twin deficit, also affecting the pound negatively
Thanos Vamvakidis, BofA Securities.
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