Just a couple of days since the British pound fell in a 10-month low against the Singapore dollar, the pound fell even further in its lowest value in two and a half years against our currency.
Bloomberg data showed that the pound traded as low as S$1.9721 on Monday evening about 8.30pm — a level not seen since August 2013, when the value was at S$1.9702.
In fact, the British pound hit a seven-year low overall in its biggest single-session loss since October 2009. This would be due to increasing uncertainty and lowering confidence when charismatic London mayor Boris Johnson supported a campaign for Britain to exit the European Union. His support for the “Brexit” contrasts with Prime Minister David Cameron’s stance and campaign to persuade voters to reject the decision to leave the 28-nation alliance.
