The UK public voted to leave the EU in a poll on Thursday June 23, a decision known as “Brexit”. Early on June 24, after the result was announced, UK prime minister David Cameron – who supported the campaign to remain in the EU – announced his resignation
As a result of the vote, sterling plunged to 31-year lows against the US dollar, at £1 to $1.3162 on the afternoon of June 27 according to Bloomberg.com, compared with £1 to $1.4877 in the morning of June 23.
At the same time, the euro has also fallen against the US dollar, with the official exchange rate at €1 to $1.0977, from €1 to $1.1385, in the same comparison.
Since the UK’s referendum, a number of European trade unions, industry groups and investment banks have expressed their thoughts on the referendum result.
European steel association Eurofer...