Brexit isn't really a part of the story, regardless of what the punditry may wish. Look at GBP/USD long term to see: https://finance.yahoo.com/chart/GBPUSD%3DX

Brexit isn't really a part of the story, regardless of what the punditry may wish. Look at GBP/USD long term to see: https://finance.yahoo.com/chart/GBPUSD%3DX?showOptin=1#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 https://finance.yahoo.com/chart/GBPUSD%3DX?showOptin=1#eyJpb... The big shock was 2008. Then things were stable for a few years but starting in 2014 the value of the currency went into a long period of decline. Brexit in 2016 spooked a bunch of traders who were terrified of the readily apparent insanity visible in the (Remainer) government - talks of massive emergency tax rises and so on clearly had an impact - but then once Cameron/Osborne were booted out and the massive recession the "experts" had promised failed to materialize, the currency regained its value vs the USD until by 2018 it was back at the same level it had been at the start of 2016. Then the currency got weaker with time until a recovery around COVID, then the decline set in again. So as you can see Brexit had a temporary effect due to the, uh, "broken promises" about the costs of leaving made by the Remain campaign. But within 18 months that had been unwound. The real story here is a macroeconomic one: the UK economy was permanently damaged by the (American triggered!) financial crisis and never really recovered in the same way the USA itself did. Growth stopped around that time, and it was then dragged down even further by Eurozone weakness starting around 2012-2014 era. The 2010s were a lost decade for the UK economically. The 2020s will be no better given the way things are going politically. Brexit has little to do with it though, except in the sense that it would enable a hypothetical capitalist/libertarian party that doesn't currently exist to liberalize the economy to US standards and restart growth. There's no appetite to do that in the UK political mainstream at the moment.