Post-Brexit Aftershocks on the Horizon

Impact examined

ERIK NORLAND, SENIOR ECONOMIST AND EXECUTIVE DIRECTOR, CME GROUP

The Brexit vote on June 23 came as a massive shock to financial markets, especially the British pound, which fell from 1.50 to the US dollar to 1.29 within a matter of days. Across the English Channel, however, the euro took the news with remarkable equanimity, and remained firmly in the upper half of the narrow 1.04 to 1.15 to the US dollar range where it has been trading since February 2015.

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