Daily News | British troubles

Financial markets around the world were shaken up after the British people voted to leave the European Union and it seems that the situation still isn’t completely stable. Britain’s new finance minister Phillip Hammond, for example, said on Thursday that he will do whatever it takes to strengthen the financial markets. On the other hand, nobody really knows what will happen with Britain and Brexit. Owen Smith, British Labour Party’s leadership candidate, thinks that Britons should vote one more time. According to Smith, the majority that voted yes was deceived and he thinks they should get another chance. This is a fairly common opinion after Nigel Farage admitted that he cannot guarantee that the NHS will get 350 million pounds every week after Britain leaves the EU. This claim was one of main features of the “Leave” campaign, so the outrage is quite understandable. Will the British really get another chance – that is yet to be seen. On Wednesday Theresa May, Britain’s new prime minister, had a meeting with investors. Consequently, the pound sterling immediately rose to $1.3212. Additionally, the Bank of England didn’t change interest rates.
The same goes for the Bank of Canada. In Canada they are convinced that their exports and business investments will grow, so the Canadian dollar rose against the greenback to C$1.2944. As for the Asian market, investors are still waiting for the Bank of Japan’s first move. They will have a policy meeting later this month, and nobody can be 100% positive if they will really expand its stimulus.

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