Nice piece by @AndresVelasco on how UK become a developing country (increase in deficit creates worries about future, leads to depreciation), rather than developed (deficit leads to higher interest rates, capital inflows, appreciation).
https://www.project-syndicate.org/commentary/why-pound-sterling-is-falling-despite-higher-budget-deficit-by-andres-velasco-2022-09

🐦🔗: https://nitter.eu/lugaricano/status/1574422959858384897