British Pound Drops

The British pound is dropping sharply today after Boris Johnson, the mayor of London, threw his weight behind the “Brexit” cause. The Brits are set to vote this June 23 on whether to leave the EU.

The pound is down about 2% against the dollar for its biggest daily fall in more than seven years. The pound is currently below $1.41. In mid-2014, the currency was fetching $1.71.

Morgan Stanley said that the pound could fall to $1.30 on an exit vote.

big02222016

Posted by on February 22nd, 2016 at 9:18 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.