Brexit Market Impact
About Brexit Market Impact
The UK voted to leave the EU on June 23, 2016. The pound fell 10 percent overnight, its largest one day fall in history. The FTSE 100 initially dropped 8 percent before recovering. The pound fell to 1.14 against the dollar in 2022, its lowest ever level. Brexit caused years of uncertainty. Financial firms moved assets and jobs from London to Frankfurt, Paris, and Dublin. The UK formally left the EU on January 31, 2020. The long term economic impact remains debated, but the pound has never recovered to its pre Brexit levels against the dollar.
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