Brexit win could trigger Black Friday — George Soros

Sterling rallied on Monday as polls published over the weekend showed a rise in support for the remain camp after the death of Jo Cox and propelled the pound to its biggest one-day move in nearly eight years when compared to the world’s other big currencies.

He added: “Nor would a fall in the pound this time necessarily be a disaster”.

“The value of the pound would decline precipitously”, Soros warned.

Writing for The Guardian, hedge fund investor George Soros warned that a Brexit vote would cause the pound to fall by at least 15% and possibly more than 20%, to below $1.15.

In the minutes of the Bank’s final interest rate decision before the referendum, the Monetary Policy Committee warned that recent movements in the pound meant it was “increasingly probable” sterling would tumble after Brexit. They were up again Tuesday over optimism that Britain will stay in the EU.

Speaking on London radio station LBC on Tuesday, Boris Johnson, also of the “leave” campaign, said he would apologize to the British people if the country votes for Brexit and there is a recession.

He added: “Sterling is now higher than where it was shortly after the referendum was called”.

In other words, there’s no room to cut interest rates this time.

Yesterday the pound saw it’s biggest one-day rise in around six years, as volatility ramps up ahead of the vote on Thursday. “It would also have an immediate and dramatic impact on financial markets, investment, prices and jobs”, Soros, who is 85, said in the Guardian.

“After we Vote Leave we will strike a free trade deal with the EU as you don’t have to be be political members of the EU to trade freely with the EU”.

Richard Branson, the billionaire founder of Virgin Group Ltd., wrote on the company’s website that Britain should remain in the EU.

Prime Minister David Cameron, Bank of England Governor Mark Carney and the International Monetary Fund’s Christine Lagarde are among global leaders to warn about the risks to the United Kingdom of quitting the European Union, which is the world’s biggest single market and buys about half of Britain’s goods and services. “People are anxious about it”. In November, we will all find out if they get one in America. “Two, three and four are schools, hospitals, services, which are proxies for immigration”.

Lord Bamford, who is a Conservative peer and major Tory donor, has urged his employees to vote Leave on Thursday.

“The side that is most effective in motivating their voters to turn out on the 23rd will be the side that emerges victorious”, Crosby wrote.

Opinion polls consistently show just over 10 percent of Britons have not made up their minds.

Support for Britain remaining in the European Union stood at 53 percent with support for quitting the bloc at 46 percent, according to a latest ORB poll for the Daily Telegraph newspaper.

The uncertainty over Brexit has hurt sterling since late past year.

“But before the result is known, there is still two-way risk”, he said. “However, it is important to remember that the outcome looks so close that any lead should be treated with caution”. “All the big leaders are saying we should remain in Europe”.