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19: How we broke the British pound, with Rob Johnson

Onward, a Fundrise Production

CHAPTER

The Mechanisms of the British Pound Devaluation

The British pound was effectively fixed against the Deutschmark within a little range. If we had a fixed dollar to euro, right, or yen, the yen appreciated. So that's just to recapitulate that for people. The one other thing is you mentioned, the tools they had was either foreign exchange intervention or changing the interest rates in Britain up or in Germany down.

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