Friday, June 24, 2016
With The Brexit Referendum Results Now In, The British Pound Is Experiencing A Historic Collapse.
WNU Editor: The money markets expected a 'Remain" victory .... they were wrong. As of now, the British pound has collapsed by 10%. The link that monitors the value of the British pound is here.
Expect an announcement any minute now from the Bank of England Chairman. I also expect a collapse in the stock market ... do not be surprised if trading is suspended.
Update: The world stock markets are going to have a rough day .... Brexit Infects Global Markets as Unprecedented Moves Accumulate (Bloomberg).
Update: Black Friday panic as world markets plunge after Britain votes to LEAVE the European Union in historic knife-edge referendum that sees a nation divided and the pound crash to 31-YEAR low (Daily Mail).