Peep this chart, bruh (courtesy of Michael Mackenzie):
As we covered earlier this hour, the value of the British Pound relative to the US Dollar plummeted big-time after news broke that cities such as Sunderland voted in favor to “Leave” the European Union.
This is a pretty big shocker. All polling suggested heading into today’s BREXIT Referendum suggested that, while it may be close, the vote would ultimately result in a “Remain” decision. It looks like the global currency markets are even more shocked.
As you can see above, the value of the GBP has moved more today than it has since Black Wednesday in 1992 (a terrible day for the UK and the global economy that you can read up on right hurrr).
Sidenote: No big surprise here that the worst drop in value of the British Pound was during the troughs of the Great Recession in the fall of 2008.
Buckle Up, It’s Gon Get Bumpy.