Hammond says sterling fall reflects brexit realisation sky news

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Philip Hammond, the UK's former Chancellor of the Exchequer, has told Sky News that the recent fall in the value of the pound against the dollar reflects a growing realization that the UK's departure from the European Union (Brexit) will have a significant impact on the country's economy.

Hammond, who was a key figure in the UK's Brexit negotiations, said that the pound's decline is a sign that investors are becoming increasingly concerned about the potential consequences of Brexit, including higher inflation, lower economic growth, and reduced investment.

He also warned that the UK's departure from the EU could lead to a "prolonged period of uncertainty" for businesses and individuals, which could have a negative impact on the economy.

Hammond's comments come as the pound has fallen to its lowest level against the dollar in over two years, amid growing concerns about the UK's ability to negotiate a successful Brexit deal.

It's worth noting that the pound's value can be influenced by a range of factors, including economic data, interest rates, and global events. However, Hammond's comments suggest that the recent decline in the pound's value may be partly driven by concerns about the impact of Brexit on the UK's economy.