Still, as the winter solstice signals our darkest day, it is worth ending on a positive note with John Husselbee, head of multi-asset at Liontrust, predicting that the falling purchase of the pound should be good for the UK economy going forward.
“A weak currency has long been seen as a route to export-led economic growth, hence the temptation for governments and central bankers to effect a competitive devaluation, and risk a currency war,” he said.
“As we know, however, this bout of sterling weakness is not the result of a coordinated policy programme targeting devaluation, but rather a side-effect of recent political events. Nevertheless, it should prove effective in supporting exports and large-cap profit margins in 2017.”
