They said everything would be OK - Forex News by FX Leaders

They said everything would be OK

Posted Tuesday, July 5, 2016 by
Skerdian Meta • 1 min read

That´s what the Brexit leave campaigners said. They said that if Britain voted to leave there would be no hardship, only good things were about to come to this island/nation. Everything would flourish if the big EU monster was out of the way, as if British politicians were all innocent.

It doesn´t look like so rosy now, does it? The GBP has fallen to new lows overnight and dipped below 1.28, new lows that we haven´t seen in decades. It has lost about 20% of its value which makes the British owned goods like houses, cars, infrastructure, stocks etc 20% less valuable, thus reducing the GDP by 20%. And that´s only the beginning, more is to come. 

 

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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