The Wall Street Journal: Pound touched its weakest Level in history by this measure

The British pound touched a historic low Tuesday against a basket of global currencies, meaning it has likely never been lower when measured against its trading partners.

While the pound GBPUSD, +0.7423% recently traded at a 31-year low against the dollar, and a six-year low against the euro, on Tuesday it hit its weakest level ever against a widely watched basket of trade-weighted currencies.

The Bank of England’s Broad Effective exchange rate index for the pound shows that the currency is now worth less than it was at the height of the 2008-09 financial crisis or in the aftermath of Black Wednesday, when sterling left the European Exchange Rate Mechanism.

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