How has the Brexit vote affected the UK economy? June verdict

Jun 22, 2017 | Bad Credit Loans, Bank Lending, Business Lending, Business Loans, Capital, Economics, Finance, Non-Bank Loans, Working Capital

Pound slips after election upset

Sterling markets

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Dollar v £


Euro v £

1.1

1.2

1.3

1.4

1.5

Apr

23Jun

Oct

Jan

Apr

Source: Bank of England


The pound slumped to three-decade lows against the US dollar after the Brexit vote on worries about the UK economy’s long-term prospects outside the EU. This month, sterling has come under fresh pressure from the inconclusive election result. Investors had expected Theresa May to secure a decisive victory and stronger hand in Brexit negotiations. In the event, her Conservative party failed to get an outright majority. Compared with the night of June’s referendum, the pound is down about 15% against the dollar and around 13% against the euro.