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Nairaland Forum / Nairaland / General / Business / British Pound Crashes To Its Lowest In 31 Years (871 Views)
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British Pound Crashes To Its Lowest In 31 Years by Nobody: 4:47am On Jun 24, 2016 |
There has been a dramatic fall in the value of the pound as traders bet on a Leave victory in the UK's referendum on European Union membership.At one stage it hit $1.3459, a 9% plunge, and a low not seen since 1985.Before the results started to come in the pound rose as high as $1.50, as traders bet on a Remain victory.But following early strong Leave votes in north-east England it tumbled to $1.3583 and then took another dive after 03:00 BST as Leave maintained its lead.Currency traders say these moves are more extreme thanthose seen during the financial crisis of 2008."Never seen anything like it. These are once-in-a-lifetime moves, bigger than Lehmans and Black Wednesday, and we haven't even had the result yet," saidJoe Rundle, head of trading at ETX Capital."It's looking more and more like a Leave win and these massive moves in sterling and stocks will only get bigger if that is the case," he added.EU Referendum Results |
Re: British Pound Crashes To Its Lowest In 31 Years by youngest85(m): 4:59am On Jun 24, 2016 |
u c
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Re: British Pound Crashes To Its Lowest In 31 Years by Nobody: 5:11am On Jun 24, 2016 |
This US dollar is a force to recon with in the whole world. Naira is a baby |
Re: British Pound Crashes To Its Lowest In 31 Years by Nobody: 5:14am On Jun 24, 2016 |
During the campaign of PMP, I heard them (APC) saying they can make the $=N Eve successive Prime ministers in the UK have not been able to achieve that feat Bubu, take your time o |
Re: British Pound Crashes To Its Lowest In 31 Years by Nobody: 5:30am On Jun 24, 2016 |
should they leave or should they stay? |
Re: British Pound Crashes To Its Lowest In 31 Years by wasco24: 5:51am On Jun 24, 2016 |
kenkenn:British pounds is higher in value compared to dollar |
Re: British Pound Crashes To Its Lowest In 31 Years by sainty2k3(m): 6:18am On Jun 24, 2016 |
wasco24:that will soon change |
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