Pound plummets

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epa05387193 A trader works between monitors displaying stock rates and broadcasting reports on the British EU referendum results at the Euronext Stock Exchange in Amsterdam, The Netherlands, 24 June 2016, after Britain has voted to leave the European Union. Britons in a referendum on 23 June have voted by a narrow margin to leave the European Union (EU). Media reports on early 24 June indicate that 51.9 per cent voted in favour of leaving the EU while only 48.1 per cent voted for remaining in. EPA/KOEN VAN WEEL +++(c) dpa - Bildfunk+++

Just a few hours after news of the Brexit victory, the Pound Sterling plummetted in international markets dropping 7% of its value against the US dollar – falling to levels unseen since 1985.
But the Brexit is now hitting all European markets and Madrid stock exchange was falling by a dramatic 16% in the early stages – the largest fall ever registered. Spain’s risk premium rating has rocketted by 40 percentage points to around 180 – closer to the rating of 2014.

 

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