Why Has The Exchange Rate Of The Pound Plummeted In The Wake Of Coronavirus?

[barney15c]

Why has the exchange rate of the pound plummeted, the US and Euro are as affected or worse than the UK, it should have remained fairly static, not that it matters too much except for imports as no one is going anywhere anytime soon.

[jim360]

Perceived vulnerabilities in the UK economy compared to others? If nothing else it's probably a rush to the dollar.

[JJ109]

1. Dollar strengthens in a time of uncertainty, all currencies weaken against it
2. One of the major earnings for the UK is Banking Insurance and the financial sector generally. With the world economies in turmoil earnings in the City will be decimated
3. Brexit negotiations likely to be delayed or more chance of no deal.

[JJ109]

By the way it does matter. I am an expat and when the pound decreases in value, my pension plummets!

[david small]

Because currency investors smell blood.

[barney15c]

My apologies jj109 I didn't realise pensions were paid in sterling if you live abroad, another worry on top of everything else out there.

[carolegif]

The ECB has set aside £700 billion to help with the corona virus impact. I don’t know how far that will help all 27 countries of the EU. We haven’t heard all of the monies coming from our government. I expect there will be more this evening.