(June 29, 2016 at 12:27 pm)Excited Penguin Wrote: He is trading it for less than he was before, that's the idea. And he's saying it's because of Brexit.
It was because of Brexit. Even Brexiters admit that it was the vote that caused the pound to plummet in value. The cause and effect in this case is clear. They say it'll recover, and it probably will a bit. Perhaps it'll get back to where it was (~$1.44) before the vote, but then when Article 50 is enacted, it'll drop again. Then perhaps it will steadily recover for 2 years, and when the UK leaves the EU, it will drop again. Maybe at some point, 5 years maybe, it'll be back to a stable amount. The money lost in the interim won't come back though.
