The U.K. currency has lost almost half its value in the last year, as investors have increasingly shifted their bets on the dollar’s recovery.
The Bank of England’s deputy governor has also warned that the country could face an “exceptionally sharp” devaluation this year, the Wall Street Journal reported.
And in the U.”s.
Congress, members of both parties have warned that their respective bills could be held up for days if they do not receive sufficient approval from the Senate.
While the U!s pound has lost around 5 percent of its value since it traded at $1.2970 per pound on Jan. 31, the country’s central bank has kept the exchange rate on hold until this week, as it seeks to prevent the collapse of its economy.
The Bank of Japan has already stopped buying bonds from foreign banks to shore up its balance sheet, while the U.$s government is now weighing whether to print money to offset the damage to the economy caused by Brexit.