Specially times like this you need to understood this:
Fiat currencies are fundamentally linked to the concept of debt. When governments issue currency, they often do so by borrowing money through bonds or other financial instruments. This debt must be serviced.
A healthy economy typically has a balance where debts can be serviced without overwhelming borrowers. If too many people default on their debts (i.e., declare bankruptcy), it indicates systemic issues within the economy, leading to decreased confidence in the currency’s value.
During economic crises, such as recessions or depressions:
In times of crisis, investors often seek safe-haven assets. The U.S. dollar tends to benefit during these periods because it is widely used for international trade and as a reserve currency. Commodities like oil are traded in dollars, which reinforces its demand globally.
During crises where defaults increase significantly while other currencies struggle with high debt loads relative to GDP growth or inflationary pressures, the dollar typically retains its value better than others.
UK pound is most funny because the collateral of debt and bonds are huge and UK pound is traded only in UK mostly hardly out side of UK and it's backed by small group of people productivity and working in very small economic zone wich is in UK.
But what's good about this is that while UK pound is falling it's good for weatlhy indviduals in UK to hold other currencies wich currencies going up in value and for you it's like you getting free food free milk free bread because if UK pound slowly falling it's good for you If you hold usd or btc or gold when ever you need to buy something in uk you just exchange another currency for pound £ and you buy it that's like good disscount for you.
while UK debt not serviced well because of people struggle there and in the global markets world can Do without UK pound then UK is now by own.
Libor to sofr changed that new york bankers took the money printer away from London bankers ...lol that's
(funny tho so nyc bankers was just stronger then London ones)
...the libor to sofr not explained well to average joe the average joe want to know simple ways the complex things the things are complex to make everbody to confuse but libor to sofr means ...the nyc bankers together with Washington just took the money printer from London bankers and libor ended the London bankers rights to make rules in banking are gone so the USA bankers now boss...i wonder how they made London bankers to give away their power ? Lol ... did they paid or just said ok we take it from you ? ...lol it's funny case anyways.
And brexit made more trading embargo...well done all i wish i can live in UK Because it's cheap there specially when you hold foreign currencies or gold and £ pound falling slowly
But most safe currency would be euro,i'll explain why euro is used in many different countries and banks.
So If one country fail...the bond market bad and other issues then the another country can back up and balance out If italy fall then germany could help If both italy and germany fall then other countries can back them up until they get stable again it's one single robust strong resielent network of economics the euro wich is not bad
Off course the dollar is strong too but i would count dollar pros and cons so i would say EUR and USD is 1:1 they both have pros and cons but still quite good currencies.