Pound may benefit from Brexit
Published on 13.06.2016 10:58

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


The world of trading has no boundaries

Risk warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, your level of experience and preparation of taking risk. The possibility exists that you could sustain a loss of some or of all of your initial investments and therefore you should not risk more than you are prepared to lose. Please seek independent financial advice if necessary.

Important notice
By clicking "Continue" you will be redirected to the website operated by FIBO Group, LTD company registered in BVI and regulated by FSC. Please familiarize yourself with the Customer Agreement through the link. Click "Cancel" to remain on this page.