Slumping Pound Makes Everyone a Currency Trader as Brexit Looms
Slide to a nine-month low is pushing up costs for Brits going abroad, while helping Europeans with debts in pounds
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The pound’s weakness is turning everyone—from students to holiday-makers—into unwitting currency traders as Brexit nears.
Adam O Conghaile owed 36,000 pounds ($46,300) to the U.K. government when he graduated from the University of Cambridge in 2016 and returned home to Ireland. Then Britain decided to leave the European Union and sterling tumbled, cutting the value of his debt in euros.