#BREXIT: British Pound Falls To It’s Weakest In 31 Years, Leading To France Overtaking UK’s Economy
Global markets buckled as Britain’s vote to leave the European Union drove the pound to the lowest in more than 30 years and European banks to their steepest losses on record.
Market expectations that Britain is on the verge of voting to leave the EU sent the pound down to $1.35,the lowest it has plunged since 1985. Analysts have warned that the pound could fall up to 20 per cent in the wake of a Brexit vote.
This historic referendum held on Thursday, has pushed the value of the pound on Friday to its weakest level against the dollar in 31 years.
Furthermore,the sterling slid by the most on record and European stocks headed for the biggest drop since 2008 as trading soared. The yen strengthened past 100 per dollar for the first time since 2013, gold rose the most in more than seven years and benchmark Treasury yields had their biggest drop since 2009.
France’s economy has now overtaken the UKs’, as a result of the pounds slump.
I really do hope the UK have a plan to back the Brexit coz things don’t seem to be going too well already.
Thank you Jesus, dis is good news oo especially for we owing pple in pounds!! Hahahahaaa
Great news… good for Britain…