Elon Musk is now blowing up the Wall Street case for Bitcoin
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Elon Musk Is Now Blowing Up the Wall Street Case for Bitcoin
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But Rochester is ultimately sanguine on the impact on the Pound, using the example of Brexit to explain how the smaller entity in any break-up suffers the most. The UK made up 16% of EU GDP when it left, yet the pain was mostly felt by GBP, not EUR. The same could be said for the Scottish question. Yes, GBP would likely trade lower in the aftermath of a referendum resulting in Scottish independence, says Rochester.
But there will likely be no repeat of the four agonising years of the will they, won’t they? 2016-20 Brexit period for the pound.
âWorse than Brexitâ: Scottish vote weighs on assets from pound to banks
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By Greg Ritchie and William Shaw
May 5, 2021 â 12.58pm
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A week that could set in motion the eventual collapse of the 314-year union between England and Scotland is concentrating trading desks on market disasters ahead.
As Scots enter a May 6 vote pitched on whether there should be a second independence referendum, fund managers and sell-side strategists see potential for massive chaos across Britainâs economic landscape in the years to come. Yet in an echo of the early days of the Brexit poll, few are hedging for this disruptive prospect.