From Port Phillip Insider (Australia)-
From the Financial Times:
‘Long queues stretched outside foreign exchange bureaux in the City of London on Wednesday as people cashed in their pounds ahead of the EU referendum.
‘Online currency-exchange companies also reported a surge in activity as customers decided to take advantage of a 3 per cent rise in the value of sterling against the dollar, to $1.48, before the uncertainty of Thursday’s vote.’
That’s all very well and nice.
But we wonder how much the folks are changing into foreign currencies.
Based on the report, folks are buying euros and US dollars. We wonder if some are stumping for a few of the more exotic currencies. Perhaps, say, the Norwegian kroner.
Or the Polish zloty.
But our biggest question is: How many are buying gold?