Yes, the pound
sterling is in very bad shape nowadays. With a 16 per cent drop to its
30-year-lowest of $1.28, the UK is facing huge rivalry against the EU and US.
Given the UK's troubled economic situation due to the Brexit, it is entirely
possible the UK could level down.
But once again,
corporate stocks defy the odds.
According to official
figures, the benchmark index of top UK stocks had defied expectations as it
soars to its highest levels.
However, the UK is
still bound to get a 'hard Brexit' according to Ayondo Markets Chief Trader
Jordan Hiscott. He also said the Bank of England's cutting of interest rates
had the pound less attractive to foreign investors.
British exporters and
Britain's tourism industry is praising the lowered pound sterling as foreign
markets are purchasing their products and services. More tourists from other
countries have been purchasing pound sterling upon entry into the country,
improving the industry's current outlook.
But for Britons
planning trips abroad or even purchasing properties abroad, it would mean big
trouble.
According to Mr
Hiscott:
“It will make your
holiday more expensive, particularly to Europe or the US, as sterling has
fallen hardest against those currencies.”
I guess the best
equities would be in the tourism industry. Indeed, now is the time to invest.
From here, we can strengthen the economy once again.
