Friday, 24 June 2016
GBP/USD: BREXIT down-spike to recover partially
Amazingly, Britain has voted to leave the EU, bringing the anticipated down-spike in the security (and the world-wide markets).
What happens next? Answer: Nothing.
All the trade agreements and border controls remain the same for at least the next two years.
Nothing - except the uncertainty as to the future.
As the British Pound was already undervalued, there should, in the next few days, be a partial recovery from the down-spike, followed by a crawl back into my yellow box.