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A rollercoaster ride for City traders on EU referendum night

Discussion in 'Market News' started by Lily, Jun 24, 2016.

  1. Lily

    Lily Forum Member

    Aug 29, 2015
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    From quiet reassurance that remain would edge to sterling’s 31-year low against the dollar, the mood swing was extreme

    As Nigel Farage strode into the Millbank tower around midnight for a post-referendum gathering, it was looking as if it might turn out to be a wake.

    The Ukip leader’s City pals had told him remain had triumphed. They had backed their hunches with cash, sending the value of the pound up towards $1.50 as the polls closed at 10pm.

    Related: Brexit vote leaves UK on brink of recession, economists say

    Related: Mark Carney says Brexit contingency plans under way

    Related: Business leaders react to EU vote

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