What does a run on sterling mean?

A run on sterling refers to a situation where investors or the public rapidly sell off the British pound (GBP) in anticipation of a decline in its value. This can lead to a sharp depreciation of the currency as demand plummets, often triggered by economic uncertainties, political instability, or unfavorable financial policies. Such a scenario can strain financial markets and prompt intervention from the Bank of England to stabilize the currency.