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REGULATED BY THE SOLICITORS REGULATION AUTHORITY No 614992
The currency market was substantially impacted upon by the decision to leave as within hours of the news breaking Sterling dropped to £1: $1.35, this being the lowest level reached since 1985. Significant falls were also felt against the Euro. This means that imported goods coming into the UK would be more expensive, whereas the price of goods leaving the UK would be cheaper. Designer handbags and luxury goods from abroad therefore would now cost more in the UK whilst UK products sold internationally such as Land Rover cars would cost less.
Similarly, UK holiday makers travelling abroad would find that the pound bought less for their money whereas EU travellers coming into the UK to holiday, would have more Sterling for their currency to spend.