Will ‘Brexit’ Make Sterling Weaker?
Consumer sentiment, the housing market, the pound. It’s all taking a hit from “Brexit.” Property analyst Hometrack said on Friday the upcoming referendum on whether Britain should leave the European Union will curb housing activity and GfK’s measure of consumers’ economic optimism plunged to the lowest in almost three years. The pound has fallen more than 3 percent against the dollar this week and is headed for its worst week since 2009. Canadian Imperial Bank of Commerce Head of FX Strategy Jeremy Stretch possible implications with Bloomberg’s Manus Cranny on “Countdown.”