Brexit Continues to Weigh on UK Sterling

The Great Britain pound fell today, following the sharp drop on Friday, as market participants continued to speculate whether the United Kingdom is going to remain in the European Union.
The potential exit of Britain from the EU (the so-called Brexit) is still causing concerns among investors. Prime Minister David Cameron and Finance Minister George Osborne stoked fears, talking about the possibility of a recession that the Brexit may cause.
Economists argue what impact the exit can have on Britain’s economy. Some argue that leaving the EU may actually be beneficial for the UK in the long run, though most agree that it would be negative in the short term.
As for now, polls show that the “In” party leads, and this alleviates fears to some degree.
GBP/USD fell from 1.4504 to 1.4474 as of 16:41 GMT today. EUR/GBP ticked up from 0.7729 to 0.7740. GBP/JPY dropped from 159.68 to 158.36.

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