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October 20, 2016

Plunging British pound creates winners and losers

  • In simple terms, a weaker pound helps British exporters and hurts importers.
    • By DANICA KIRKA
    Associated Press

    LONDON — The economic repercussions of the plunge in the British pound were on display this week as the currency's drop helped boost sales at luxury goods maker Burberry but triggered a profit warning from budget airline Ryanair.

    In simple terms, a weaker pound helps British exporters because it makes their goods cheaper abroad and hurts importers because foreign goods become more expensive in the U.K.


     
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