Negative Brexit News hurt the GBP, EUR, AUD, NZD, CAD, OIL,DOW; and helped JPY and USD

By May 31, 2016Uncategorized

The negative Brexit news hurt the GBP immediately and the knockon effect as follows:

  1. EUR declined in sympathy with the GBP
  2. AUD, NZD, and CAD declined because commodity prices would be negatively effected by Brexit
  3. OIL declined because it is a commodity and the DOW and other major stock indexes declined because brexit is bad for economies on a global scale
  4. JPY benefited from flight to quality
  5. USD benefited by default mostly

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