People dismissed it as scare-mongering then, but George Osborne’s Emergency Brexit Budget looks prescient this morning. It’s a bloodbath out there.
Here’s what happened to the Pound
This is what has just happened to sterling in historical perspective. Literally off the charts. Black Friday awaits. pic.twitter.com/ONG7ky4cyh
— John Authers (@johnauthers) June 24, 2016
As Ed Conway said on Sky News:
We have NEVER seen moves of this scale [on the pound] in a matter of hours.
Fall in pound may be overdone but illustrates something: independent currency is great until investors lose faith in it. Then not so great.
— John Cassidy (@JohnCassidy) June 24, 2016
That has spread panic to other markets.
— Anthony De Rosa (@AntDeRosa) June 24, 2016
— Jeannie Lee@CBC (@JeannieLee88) June 24, 2016
Hold on to your hats because this is going to get painful