FYI: Britain’s vote to leave the European Union is inciting fresh turmoil in emerging markets already struggling with broad-based slowdowns. Part of the problem is investors worry growth in industrializing nations will take a hit as prolonged uncertainty weighs on EU output.
But the key Brexit threat is channeled through exchange rates. As British voters voted to exit the EU, investors pulled their cash out of the British pound, the euro and a host of emerging markets, and poured it into safe-haven currencies, largely the dollar
Regards,
Ted
http://blogs.wsj.com/economics/2016/07/05/how-brexit-is-likely-to-keep-beating-up-emerging-markets/
