ALERT. REAL TIME BREXIT POST. ALERT.
Unless you live under a god damn rock, I’m sure you’ve heard, read, or absorbed something mentally about the ongoing “Brexit” issue going on in the United Kingdom. It’s my fault for dilly-dallying like a jackass and not totally breaking down what’s good with the Brexit and its implications. Anyway, citizens of the United Kingdom are voting today on whether or not the UK should leave the European Union. Among the smorgasbord of serious poly-socio-economic implications surrounding the Brexit vote, the value of the US Dollar, the British Pound, and the Euro is something to take note of. The voting results are now coming in this evening (WHAMMY). Which brings us to….
Peep this chart, bruh:
It was just announced that the cities of Sunderland and Swindon voted in favor of the exit referendum, which means, Brexit may be a’coming. On top of that, the Newcastle vote barely finished in favor of “remain” (which was unexpected). Following the news, the value of the British Pound instantly dropped by 3.5% relative to the US Dollar. As CNBC breaks down, the Pound was up at a 6-month high due to most polling was indicating towards a “remain” in the EU vote. With this early news of some “exit” voting already coming in, it looks like investors aren’t too thrilled.
As shown by Joe Weisenthal, the Pound has slightly bounced back…. but more Brexit news could change that right away.