HN title was misleading.
The GBP was high early this year. Then it took 10% hit over time + 10% hit on the brexit day + 10% recently when some political idiot announced that they'd proceed with Brexit next year.
As much as I hate pricing changes, and find companies to be quick to adjust price upward but not downward. I have to admit that there is a bottom price window that will call for aggressive adjustment from international buyers/sellers. Maybe it's reached already. People will have to live with the consequences.
That was the PM's speech at the conservative party conference. It confirmed that the UK was going to go for Brexit(no free movement, no single market) not Brexit(free movement, single market), and therefore lots of firms will have to relocate large parts of their operations outside the UK. Especially in financial services.
Firm will not relocate magically. It's simply not possible to get rid of 1000 people and a big building in the blink of an eye.
That would require to hurt the economy and the companies very badly, bringing down hundreds of thousands of jobs and millions of people along. If the MP really hinted at that, it's no wonder that the pound took -10% right afterwards. :(
