160608 canary wharf banks
Charming. These people may actually cause a run on the pound.

Investors are moving billions of pounds in assets out of British currency and assets ahead of the European Union referendum, new figures suggest.

Around £65bn left the UK or was converted into other currencies in March and April, the largest amount since the economic crash.

In the six months to the end of April, £77bn was pulled out of British pounds, compared to just £2bn in the six months to the end of last October.

The figures, published by the Bank of England, are consistent with investors worrying that the pound is due for a sharp fall should Brexit occur.

Because financial markets are prone to collective panic, investors’ views are the main factor in determining whether the pound will actually fall. Any perception that a fall was about to take place could end up becoming a self-fulfilling prophecy.

Source: Billions of pounds taken out of the British economy amid fears of Brexit | UK Politics | News | The Independent


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