With the UK vote count complete, 48.1% are for remaining a member of the European Union and 51.9% to leave. A number of factors explain why remain slipped from being a reasonable cert by a (small) majority to defeat. The larger than expected turn-outs at 72.2%, in northern England, and among lower socioeconomic groups tipped the balance towards an exit. Remain under performed in areas where they were expected to be strong, but were still ahead in the London area and Scotland. The financial markets continue to exhibit significant volatility as traders reset their their expectations, some would say they are panicking! It looks like a wild ride will continue for some time.
Here is the Pound US Dollar Chart for the last few hours. Down 9.3%!
