POUND FALLS TO LOWEST LEVEL IN DECADES
On June 23rd, Britain voted to exit the European Union. On July 6th, the pound fell to its lowest level in 31 years. In the days following the referendum, the pound fell a shocking 15%, where it appeared to level off until it didn’t. The pound now sits at $1.28. The Bank of England does not offer much hope when it comes to financial stability, saying that its assessment of Britain’s monetary situation showed that the country is in a challenging spot. George Soros, known as the man who broke the bank, predicted before the vote, a drop of about 20% for the pound to $1.15.