The Impact of Major Emergency on International Foreign Exchange Markets: The Case of Brexit Vote

Boen Ding ()
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Boen Ding: The University of Sydney, Bachelor of Economics

A chapter in Proceedings of the 2022 2nd International Conference on Economic Development and Business Culture (ICEDBC 2022), 2022, pp 1565-1569 from Springer

Abstract: Abstract On June 24, 2016, the results of the UK's EU referendum were announced, with Prime Minister David Cameron declaring the Leave camp the winner. Not only did the exchange rate of the British pound plummet, but most non-US dollar currencies also weakened significantly. The international foreign exchange market is the most liquid traded financial market and is highly sensitive to major events. This paper systematically review the history of the UK's exit from the EU and the key events after the start of the process, while analyze the trends of major currency exchange rates by using data on the exchange rates of the British pound, the euro, the Japanese Yen and the Chinese Renminbi as the objects of this study.

Keywords: Major emergencies; Exchange markets; Brexit Vote (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-036-7_233

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DOI: 10.2991/978-94-6463-036-7_233

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