Mohamed A. El-Erian , Columnist

Seven Things to Know About the Pound's Depreciation

The "flash crash" extends the response to the U.K. government's signal that it favors a "hard" departure from the EU.

October 7, 2016 at 1:34 PM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

Stormy weather.
Photographer: Niklas Halle'n/AFP/Getty Images

Provide news feedback or report an error

Site feedback:

Take our Survey

This article is for subscribers only.

Although the last leg in the pound's downward trajectory occurred suddenly and included a brief "flash crash" on Friday, the drivers of the decline have been long in the making, and the implications have yet to play out.

QuickTake Brexit