The Brexit referendum delivered a punch to the UK’s pound, but the currency has slowly picked itself up and gained some strength despite the pandemic, once again closing in on the US$1.40 mark in February. How well it fares over the next few months will depend on several factors—including the UK’s COVID-19 response but also the raft of unique issues that the nation will face as it evolves post-Brexit.
UK Pound Sterling
Given the prevailing financial infrastructure that exists today, international transfers continue to remain costly, time-consuming and risky—and even more so when there is a need to exchange currency. Such transactions normally undergo a series of stages that invariably include the involvement of intermediary parties and the foreign-exchange market