As Brits Vote to Leave or Remain in EU, the Pound Crashes

Posted: Jun 23, 2016 8:00 PM
As Brits Vote to Leave or Remain in EU, the Pound Crashes

Update: "Leave" is ahead with 50 percent of the votes tallied, bumping the probability of a UK exit from the EU to 80 percent.

Update II: UK Independence Party Leader Nigel Farage, who earlier Thursday night all but conceded to the "Remain" campaign after looking at early exit polling, just tweeted this more hopeful-sounding message.

Farage is also calling for Prime Minister David Cameron to resign if the UK votes to leave the EU. Cameron had urged Britain to remain. 

Original Post

The votes are currently being tallied in the "Brexit" vote that will determine whether or not Great Britain remains in the European Union. After a particularly surprising result in northeast England's Sunderland, which gave the "Leave" camp a major victory, the British pound plunged.

This marked the pound's biggest drop since 2009, Bloomberg notes.

Right now, the "Leave" campaign is stronger than anticipated.

The early Brexit voting is also having a major impact on the U.S. stock market.

This post has been updated.

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