Not a momentary anomaly, but a long sustained decline. The Tories are getting the economy all wrong, and investors have noticed, and are giving up on Sterling.
The result is a vicious circle - prices will increase, inflation will get a lot worse, and recession deepen, and general dissatisfaction take hold.
May even get mass strikes and rioting before they are done.
I am not hoping for ANY of that.
But the prospects don’t look good.
I wonder if there will be anymore red wall Conservatives giving up like Wakefield? Wouldn’t be surprised.