Daily News | Post-Brexit impacts

Welcome again to another exciting day of global binary options trading! The news this week is once again heavily focused on post-Brexit developments what impact they could potentially have on the currency market, more specifically, on the euro and the British pound sterling. But fear not, as we have analyzed most of the data. Unfortunately, things seem pretty grim for both of these currencies. The GBP sank by 10% on Friday, reaching a weak point that has not been seen since 1985, and things just keep getting worse. Analysts say that the euro could also suffer significantly, as it has already dropped sharply against the dollar (3.3%, its biggest one-day fall in history), with new problems expected to bleed over to today. The pound sterling dropped, and is expected to drop to somewhere between $1.25 and $1.30. HSBC also reacted and lowered it expectations for this currency. The bank now expects that the GBP could fall even further by the end of this year. Most current projections for the British economy state that it will grow more slowly in the post-Brexit era, which is proving true based on the data even now. More than £100 billion has been lost on the FTSE 100 rating, which could downgrade the country’s triple A rating. We will keep an eye on this situation and see how post-Brexit effects influence the market, but the situation is not looking good for the UK.

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Author: Max Rothstein

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