Pound hit 7 year low / decline sharply after boris johnson backed Brexit

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HucktheForde
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#1
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#1
Almost too dramatic how one man's words can cause chaos to the currency.

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http://www.fxstreet.com/analysis/gbp...st/2016/02/22/

http://www.theguardian.com/business/...-business-live

IF UK leaves the EU the pound will drop a lot. It might not be bad as exports will soar and tourism will bring in more revenue. But are you ready for a weak pound? Your purchasing power will reduce and a lot of people will come here as they can afford to spend now.
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TheArtofProtest
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We are a service orientated country, with estimates saying that services account for 75% of our GDP (London, the financial heart of Europe, if not the world, makes up around a quarter of the UK's GDP by itself).

The export effect will be minimal at best.
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Jammy Duel
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(Original post by TheArtofProtest)
We are a service orientated country, with estimates saying that services account for 75% of our GDP (London, the financial heart of Europe, if not the world, makes up around a quarter of the UK's GDP by itself).

The export effect will be minimal at best.
It has to be remembered that the service sector is a hell of a lot more than just financial services. A massive chunk of the government spending is the service sector. Real estate is services, both rental and home buying. Transport and retail. Financial services are only about 5-6%

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DiddyDec01
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Just a taster for what may come.

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the bear
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the met office have issued a red alert for Storm Boris. it is expected to cause havoc within the M25 area. all travel to Europe is suspended.
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