Back when Brexit was announced as a possible move forward for the UK, the forex market took a fall with the British pound dropping with 10% at the level of 1.3230 to the dollar (the lowest since 1985), and the Euro dropping with 4% to the level of 1.0945 to the dollar. EUR/JPY also suffered greatly, reaching an all time low for the last 15 years. If these trends are expected to carry through and possibly worsen when Brexit happens, what is foreseen for the future of the trading market?
Both the British pound and the Euro are expected to remain under pressure and investors are likely to tread safer areas as far as finances are concerned. The likelihood that these currencies will experience a greater decline is also not a far-fetched idea, and a recession may be imminent taking into consideration the uncertainty around global markets and little hope for recovery anytime soon should the losses be fatal.