Market News

To the complete surprise of journalists and Brexit supporters, former London mayor Boris Johnson pulled out of the race to become Britain's prime minister Thursday.

Market volatility following last week’s Brexit has settled down somewhat and global markets seem to be holding steady.

Asia stocks rose on Thursday, following an overnight Wall Street ally while the safe-haven Japanese yen was held steady as global markets regained composure after the Brexit jolt.

In the aftermath of the UK’s decision to head for the exit of the EU (and, as they say, it ain’t over until the fat lady sings…) external agencies have been assessing what that decision means as regards the creditworthiness of the nation.

Britain’s exit from EU membership may not actually happen but so far, the fallout of a Brexit doesn’t seem to be as bad as anticipated.

Despite continued jitters over the U.K.'s vote to leave the European Union, U.S. and European markets were higher on Tuesday spurring a $3 trillion post-Brexit global rout. Asia markets followed the lead and opened higher on Wednesday.

Asian stocks were up for the first time in three days on Tuesday and the pound and other currencies advanced as investors took advantage of lower prices to buy up assets following Britain's vote to exit the European Union.

The impact from Brexit - which has already generated much turmoil in global equity, commodity and bond markets – continues to grow and its negative effect on world currencies and equity markets is only beginning to be felt.

There is an extremely light news schedule this week. However the markets have been roiled by the unexpected vote by the United Kingdom to leave the European Union, which has plunged that country into a severe political and constitutional crisis.

In a surprise development that the markets had seemingly already priced out as only 15% probable, the British people have narrowly voted by 52% to 48% to leave the European Union.

In what may, in the future, be called ‘the day that shocked the world’ the United Kingdom is on course to leave the European Union.

The repercussions of a possible Brexit are dominating the currency markets far and wide.

Over the last few months, financial markets and investors, banks and nations have been focused on one thing--Britain’s referendum to leave or remain as an EU member.

The Euro and the Pound Sterling are both edging higher in today’s trading, just one day ahead of an important vote to decide the fate of both the UK and the European Union. Currency strategists expect significant volatility ahead for both currencies in the hours ahead of the referendum, with residual choppiness to likely follow through the week’s end.

Asian stocks moved up slightly on Wednesday as the countdown to tomorrow’s Brexit vote made investors jittery.