The United Kingdom has voted to leave the European Union – #VoteLeave gained a slim majority of 51.9 per cent. We are now entering the unknown and a time of uncertainty.
The value of sterling is down by more than 10 per cent, at $1.33, compared to $1.50 as the polling stations closed their doors at 10pm last night. It is the harshest recorded daily fall in the value of the UK currency since 1985.
The pound is down over seven per cent against the Euro too, causing huge implications to the future transfer business undertaken by West Ham. Last night L’Equipe revealed the Hammers had tabled a renewed €52million offer for Alexandre Lacazette. The fall in the pound’s value has seen this price-tag rise from an initial £40million (at 10pm last night) to almost £42million – a £2million rise overnight.
As many so-called experts will tell you, the only thing certain after a historical event like this is the financial markets overreacting. They are extremely sensitive and will respond negatively due to the huge uncertainty following a Brexit vote. Many expect the pound to recover soon, though these things aren’t always easy to predict.
