In one of the most immediate effects following the UK referendum to leave the European Union, the British pound has taken a strong enough hit to reduce the Britain’s economic standing in the world. Express reports it is now the sixth largest economy by GDP, having been surpassed by France.
Alongside this, Standard and Poor’s Rating Services has announced that it will probably lower the country’s current triple A rating. Another leading agency, Moody’s, warns that the vote “heralds a prolonged period of policy uncertainty that will weigh on the UK’s economic and financial performance.” READ MORE
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