British pound plummets day after Boris backed ‘Brexit’

February 22, 2016 12:43 PM

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British pound plummets day after Boris backed ‘Brexit’

LONDON — A day after London Mayor Boris Johnson threw a bombshell into British politics by backing a British exit from the European Union, the financial world felt the ricochet Monday as the pound plunged in value.

As of mid-day in London, the British currency had experienced a nearly 2 percent drop against the dollar, its largest one-day decline in nearly six years. The sell-off of the pound sterling came as markets reacted to a move that analysts say has raised the odds that Britain will vote to leave the 28...

Also read: Still here? EU reality dims British demand on full membership

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