Pound Hits Seven Year Low After Boris Johnson's Brexit Decision
Posted: Tue Feb 23, 2016 1:43 pm
Ah, the joys of trading forex. One man, not a major international figure mind you, just a mayor, makes a public statement, and twenty-eight billion pounds change hands.
On Sunday afternoon Boris Johnson, mayor of London, publicly stated that he would back the campaign for the UK to leave the European Union. On Sunday evening the pound opened 130 pips down relative to the dollar. As of this writing it has lost three cents. That is a little over two percent of its value. The GBP M1 money supply currently stands at about £1.46 trillion. On Friday that sum was ... (read more)