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Pound may benefit from Brexit
Published on 13.06.2016 11:58

The British pound is under further pressure today as more people come to the realization that the UK is on the Brink of leaving the European Union.

 

At 8.23am (GMT) the British currency was trading at US1.4191c down 0.44 percent from Monday’s trading.

 

Some are now predicting a drop of around 30 percent for the pound against the US dollar should the UK vote to leave but Ukip leader Nigel Farage claims that this may be a good thing for the local economy and make it more competitive,

 

"If sterling were to fall a few percentage points after Brexit, so what?" Mr Farage said.

 

He also took aim at potential migrants by using Australia as an example and said that the UK should follow in the country’s footsteps,

'Let's be clear,” he said. “If you're coming to live in this country, to work in this country, you have to bring your own health insurance”. he said

“The way Australia does it is very simple, you've got to be under 45, you've got to have a trade or skill, you've got to have some money, no criminal record and bring your own health insurance” he added.

With less than 10 days to go before the Brexit vote immigration is likely to play a key roll in the final outcome of the vote.

The material published in on this page is produced by the FIBO group companies, and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Andrew Masters

Analyst

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