Factors for the devaluation of the pound First, the market expects that the Bank of England will cut interest rates ;
Secondly, the current trade situation in the UK is worrying, and the inflow of capital to buy UK assets has slowed down significantly;
Thirdly, since the credit crunch caused by the subprime mortgage crisis in August 2007 spread in major countries, the British people have experienced a certain degree of trust crisis in the ability of the government to manage the economy, thinking of the painful lessons of “Black Wednesday” in 1992.