Brexit actually happened. To say that I am stunned would be an understatement. To be perfectly honest, I really did not believe that the British people would vote to leave the European Union, but they actually did.
Unsurprisingly, that caused a huge crash on all EUR and GBP-related currency pairs. GBP/USD crashed with 1800 pips, reaching 1.3225, which is its lowest level since 1985 and EUR/USD reached 1.0911. Both pairs rebounded afterwards, but the damage has already been done. I, personally, expect that now there will be a sideways consolidation, as it usually happens after such a big movement, but afterwards the move to the downside will continue, especially if the UK follows through with the results of the referendum.
Huge disaster. the punished sterling plummeted the markets.
ReplyDeleteImpressive slump!
ReplyDeleteI couldn't believe it either.
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ReplyDeleteIndeed happened, it made history.
ReplyDeleteHuge drop.
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