Brexit - what it means to your home, mortgage and investments
- Created: Friday, 01 July 2016 12:29
The country has voted and to the surprise of ‘nearly’ everybody (including the bookies), we woke up to the news that Britain had chosen to leave the EU by a slim majority of 52% - 48%. Since then, the initial jitters have given way to back-stabbing and turmoil within the two main political parties, who both seem intent on implosion.
The lack of hard facts, pre & post referendum, has led to great uncertainty. Somewhat surprisingly, investment markets have reacted positively, with the FTSE 100 climbing nearly 10% from the immediate low.
Currency markets saw the most dramatic moves, with sterling falling over 11% against the dollar to a 31 year low ($1.32), 8% against the euro & an alarming 15% against the Japanese yen. Gold rose 5% as investors looked for a safe haven. Some savvy folk purchased their holiday euro’s early, just in case.