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Soros on Brexit - British voters "grossly underestimating" true costs of Brexit

Legendary trader George Soros writing in an op-ed for the Guardian newspaper

  • British voters "grossly underestimating" true costs of Brexit
  • Says value of pound would "decline precipitously" in the event of a Brexit
  • Sterling almost certain to "fall steeply and quickly" if Britain votes to leave EU in Thursday's referendum
  • Sterling fall after Brexit could be "bigger and also more disruptive" than 1992 'black Wednesday'
  • Sterling could fall more than 20 percent from current levels of $1.46 in the event of Brexit to below $1.15
  • Sterling devaluation after Brexit would compare to the 1967 devalution, points to large UK current account deficit
  • Says speculative forces in markets would be eager to exploit miscalculations by British govt or British voters
  • Brexit would have immediate and dramatic effect on financial markets, investment, prices and jobs

Reuters with the summary of Soros' piece

Article is here: 'Brexit would trigger sterling fall worse than Black Wednesday'

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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