Newsnote June 2016 Brexit
After being a member for 43 years, the United Kingdom (UK) yesterday voted by 51.7% to 48.3% to leave the European Union (EU).
Markets were roiled by the outcome. In the days leading up to the referendum, polls swung in favour of the Remain vote and equity markets rallied strongly, as did the pound sterling and emerging market currencies. The big market moves on Friday need to be seen partly as a reversal of the gains seen in the previous few days.