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Brexit resurfaces as Sterling has flash crash

by Wealth Know How in Commentary & Opinion

Markets were travelling along pretty smoothly until Friday morning when the British Pound had a "flash crash". In a matter of seconds, the Sterling fell more than 6% before recovering about 4%. The shock drop quickly refocused the market’s attention from the bank issues in Europe to Brexit.

The falling Sterling has helped cushion the UK economy against the adverse effects of Brexit. Indeed, in the short term we may even see UK GDP growth pick up as export services like banking and tourism prosper under a lower Pound. 

Wealth Know How is the online network helping people manage their wealth through financial education. Whether you are looking for simple ways to better manage your cash, or you are after a complete strategy on how to save for retirement, we can help you understand your options. It is important to have a vision for your future, but its knowledge not dreams that will ultimately deliver financial success.

Published on 11 Oct 16

  • Markets were travelling along pretty smoothly until Friday morning when the British Pound had a "flash crash". In a matter of seconds, the Sterling fell more than 6% before recovering about 4%. The shock drop quickly refocused the market’s attention from the bank issues in Europe to Brexit.

    The falling Sterling has helped cushion the UK economy against the adverse effects of Brexit. Indeed, in the short term we may even see UK GDP growth pick up as export services like banking and tourism prosper under a lower Pound. 

    Wealth Know How is the online network helping people manage their wealth through financial education. Whether you are looking for simple ways to better manage your cash, or you are after a complete strategy on how to save for retirement, we can help you understand your options. It is important to have a vision for your future, but its knowledge not dreams that will ultimately deliver financial success.

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