Wednesday November 25, 2020

Soros warns Brexit could cause bigger drop in pound than Black Wednesday

Sterling could fall by more than 20%, the billionaire investor warned

21st June, 2016
George Soros Pic: Getty

“Brexit would make some people very rich, but most voters considerably poorer,” Soros wrote in an op-ed published in the Guardian on Tuesday.

Governments and investors around the world are closely monitoring the June 23 referendum amid concern that a UK decision to leave the EU would spark turmoil across financial markets. The pound surged the most since 2008 on Monday, spurring a global rally in higher-yielding currencies, as polls signalled the campaign...

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