Market commodities are greatly impacted when a nation’s government loosens its ties with international groups. The European Union is one of the more established politico-economic unions in the world dating back its beginnings on November 1, 1993. It suffered an overwhelming loss, when 52% of the United Kingdom voted to leave as against 48%.
But what are perceived setbacks awaiting the UK? For one, its sterling dropped to a 31 years old value against the US buck. Its share market has somehow recovered from the slump before the referendum. Its banks plan to cut borrowing rates to stimulate investments in coping with the fear of pullouts. Continue reading