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UK Votes to Leave, Pound Hits 30 Year Low
UK Votes to Leave, Pound Hits 30 Year Low
Ladies and gentlemen, the UK has left the building!
51.9% of UK voters have chosen the ‘leave’ vote over 48.1% to ‘remain’ in the European Union. The Brexit reality has rocked the markets and sent the Sterling tumbling.
Here’s a quick look at some of the price action from earlier this morning when the final vote count was announced and follow-up moves as of writing.
- GBPUSD dropped almost 12% from 1.50047 to 1.3225, finally retracing to 1.38666
- The euro suffered with the EURUSD dropping from 1.14231 to 1.09110, but gained soon after to 1.11887
- Gold predictably rose from dramatically from 1250.29 to 1358.16 but dropt back to 1308.38
- OIL leaped from 46.70 to 50.42 and pulled back to 48.38
- EURGBP rose from 0.76104 to 0.81807, retracing to 0.80224
- GBPAUD dropped from 1.80153 to 1.96717, but recovered some of its losses by going to 1.86954
- The FTS index dived 8.7% but has since retraced some of its losses.
The Brexit has seen US stocks hit a 4-month high in volatility with the Volatility S&P 500 index jumping 21.63%. The volatility index gauges investor nervousness – and there is certainly a lot of that around.
UK Prime Minister, Cameron has just announced he will step down at his party’s conference in October, sending even more jitters into an already highly-strung market.
As today unfolds we may be in for more volatility across all global financial markets so stay tuned.
The post UK Votes to Leave, Pound Hits 30 Year Low appeared first on Forex.Info.
