(NEW YORK TIMES) – Big declines in Britain’s currency, the pound, often have signaled wrenching changes for the country. Could this be the case again as Prime Minister Theresa May struggles to win support for her plan to take Britain out of the European Union?
The British pound on Thursday fell 2 percent against the dollar. That’s a large decline for a currency belonging to a developed economy and is the biggest one-day drop since the weeks after Britain’s vote in June 2016 to leave the European Union, a process known as Brexit.
Though the pound is down 15 percent since that vote, it remains well above the lows it hit in January 2017, when it was becoming clear that Mrs. May’s government favored a more drastic separation from important economic arrangements with the European Union.
