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The currency has lost 17 per cent versus the US dollar since June’s referendum. Theresa May went in front of the House of Commons to discuss her plans for activating Article 50 on Monday. Although the prime minister is confident in the UK’s negotiating position, details remain unclear and investors continue to sell the pound.

The UK’s economy continues to provide mixed signals after June’s referendum with UK inflation jumping more than expected in November. The increase to 1.2 per cent from 0.9 per cent was the largest monthly increase since October 2014.

In Italy, the rejection of constitutional reform has resulted in the resignation of prime minister Matteo Renzi – prompting calls for an early election in which the anti EU Five Star party is expected to do well.

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This year the Bank of England’s stress test for UK banks included a 1.9 per cent fall in global GDP, oil dropping to $20 a barrel, a UK property market crash and turmoil in emerging markets. The test has been deemed tougher than previous years however, BoE governor Mark Carney commented that the potential for a financial crisis has increased due to recent events.

The latest good news about the UK economy is a solid figure for business investment in the third quarter, the most recent one following the Brexit vote.