Pound falls to 31-year low as UK divorces EU

The British pound fell to a 31-year low on Friday, its lowest since 1985, as the United Kingdom (UK) voted to leave the European Union (EU).

With 85.3 percent of all results in, the UK has voted to leave EU: 51.6 percent, representing 14,159,480 votes are for leaving the EU, while 48.4 percent, which represents 13,268,066, voted to stay.

This is coming against the will of the high and mighty  across Europe and outside Europe, who have warned vehemently that the UK would be weaker if the Brexit team won the referendum.

David Cameron, British prime minister; Barack Obama, US president; Sadiq Khan, first Muslim Mayor of London; Matteo Renzi, Italian prime minister; Angela Merkel, German Chancellor, and Francois Hollande were all defeated with a Brexit win.

JUNE 23 THE NEW INDEPENDENCE DAY

Rather controversial Boris Johnson, Nigel Farage, Michael Gove, UK politicians in the ‘leave’ camp are having a swell time with a victory over the bigwigs.

Farage immediately declared June 23 as UK’s independence day, adding that “if the predications now are right this will be a victory for real people, a victory for ordinary people, a victory for decent people”.

“We have fought against the multinationals, against the big merchant banks, against big politics, against lies, corruption and deceit and today honesty and decency and belief in nation I think now is going to win,” he said.

“We will have done it without having to fight, without a single bullet having been fired. I hope this victory brings down this failed projects and brings us to a Europe of sovereign nation states trading together. Let June the 23rd go down in our history as our independence day.”

Global markets are in Frenzies as Asian stocks are falling to record low, with circuit breakers already in use in the Japanese market after losing eight percent on Friday morning.

The Nigerian naira is expected to firm to about 420 against the British pound before the close of business on Friday.