Part of my “job” ( I like to think) is keeping half an eye on what is going on in the world and the bigger picture of currency and harvest predictions. I am not going to self indulgently vomit my conspiracy theories here, as I may live to regret them! a number of my colleagues have made downward purchasing decisions, outside their and our closest producers.
Today, to my knowledge the British pound is lower than it was when the government lost its majority, all of a year ago. £1 will now buy $1.205. If you actually bought these dollars today you might get $1.18-1.19 from your friendly FX (Foreign Exchange) dealer. The implications of this are enormous in world trade (when that starts again). The pound nearing parity with the (failing?) Euro is interesting too. Confidence is a funny thing, but you won’t find me buying volumes of gold, loo paper or hand sanitiser. We just need to keep calm, take a bit more time over our morning coffee and see what tomorrow brings.
On the bright side of things, this is great for the environment!