Part 4/8:
It is important to contextualize the pound's performance amidst global currency movements. While some may be inclined to dismiss the pound's decline simply as a result of a strengthening US dollar, data indicate that the pound has performed the worst among the world's ten most traded currencies. A notable example is provided by hedge fund managers, who historically have taken short positions on currencies like the pound, echoing a famous event in 1992 when George Soros broke the Bank of England by betting against sterling.