Saturday 25 June 2016

Britons want to repeat the referendum

The preliminary results of the British referendum made Friday black for pound. the British currency has fallen against the US dollar with 11.93% (1792 points) to 1.3226 until the completion of the counting of votes in all districts. Traders sold the pound all over the market, so it was most feverish.
The euro/dollar fell less than three times than the pound, with only 516 points to 1.0911. The growth of euro/pound eased the pressure on euro. Gold rose in price by 8.63%, to 1358.21. Oil fell by 3.46% to $ 47.52.
When it became known that 52% of Britons voted for the country's exit from the EU, in the forex market started a correction. GBP/USD registeres pullback with 38% (754 points), euro/dollar recovered with 50%.
Bloomberg reported that the Swiss National Bank in response to Brexit made an intervention in the foreign exchange market to prevent the Swiss franc strengthened against the single currency. The regulator has promised to monitor the situation and keep their presence on the market.
The referendum will be discussed a few more days. Volatility declined, but remains high enough for the major pairs. Do any forecasts on exchange rates at the moment is meaningless.
Central banks and finance ministers of the G7 plan to hold a meeting on Brexit. British Prime Minister David Cameron has announced his intention to resign in October.
Perhaps it is not worth rushing the Brexit?! The Britons signed a petition to reconsider the referendum. They need to collect 30 thousand more signatures, so the document would be considered in the Parliament of Great Britain. In the petition they want a second referendum for Britain's membership in the European Union, which would be held according to EU law. Where the voter turnout should be at least 75%, and for one of the embodiments voted not less than 60% of people.


No comments:

Post a Comment