On June 23rd, referendum day, STG against US $ was at 1.49 and against the Euro it stood at 1.31 to the pound.
A week later and Sterling has lost 11% against the Dollar and just over 9% against the Euro.
Uncertainty is by no means congenial to the performance of financial markets, and this is just the beginning.
A few weeks down the line and we could see Sterling dropping to 1.10 , 1.15 to the Euro.
The drop in STG in just a week is likely to continue with dire consequences fuelling recession, since we import far more than we export the trade deficit is likely to increase considerably, a possible reduction of our exports to the EU will add to the existing deficit.
" The latest healthcheck from the Office for National Statistics on goods coming in and going out of the UK reveal that the gap between exports and imports in the first three months of 2016 widened by £0.7bn to £23.9bn."
Above figures do not reflect the current period, three months from now and who knows what out trade deficit will be.
Its not all doom and gloom as we now have our ....country back, and our NHS is or ...will be better off to the tune of 350 million a WEEK
The naive and rather old pro exit voters fell for it, their beacon the Clown has thrown in the towel and our political parties in a total mess. Lets get our country back, they were persistently tolld, well we have our country back following the disastrous result against a nation almost 200 time ( in population ) smaller than our own, by the way well done Wales !!