Economic Earthquake: GBP Had Reached 30 Year Low as Britain Exits the EU
Thursday has been a day to remember as Britain fought for its future and decided to leave the EU. The referendum results were extremely close (48.2% to stay vs. 51.8% to leave) but the leave camp won. As a result, the GBP had dived to a 30 years low and the safe haven JPY rallied.
The GBP's plunge was so drastic that it reached its lowest level since 1985. That was a massive contrast to where it was hours ago, when it reached a year to date high. The volatility went crazy which was a great opportunity to make great sums of money when trading wisely.
Although the poll stated a clear result, Britain will not be able to exit immediately as the process of exiting will take up to two years or more until all prior obligations and contracts will be completely fulfilled. Europe is facing a challenging time as the rest of the remaining countries are trying to keep the union intact.
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