Why did the pound do a nose dive after brexit?
The fall of the pound is a direct consequence of the uncertainty that an exit from Europe has caused. This is due to the way the British economy works. We are a financial based economy which offered investors a safe and secure investment without the risk of losing all.
When we voted to leave (not personally btw) we took that security that we had built up over decades and threw it away on a whim. Investors don’t like uncertainty and doubts so our stocks dropped, our pound lost value and gold went up as it always does in times like this.
Only time will tell if we can salvage our reputation as a safe and secure investment opportunity or if our future lies in a different direction.