Brexit Referendum Result

On 23 June 2016, the UK voted by 51.9% to 48.1% to leave the European Union, on a turnout of 72.2% — the highest for any UK-wide vote since 1992. The result became clear in the early hours of 24 June as results came in from across the country, defying what most opinion polls and financial markets had priced in as a likely (if close) Remain victory.

The pound fell sharply as the result became clear — dropping from around $1.50 to below $1.33 within hours, one of the largest single-day moves ever recorded for a G10 currency, and its lowest level against the dollar in over three decades. David Cameron announced his resignation as Prime Minister the following morning. Bank of England Governor Mark Carney moved quickly to reassure markets that the Bank stood ready to provide extra support to the financial system.

The pound continued to trade at a markedly lower level for years afterward, reflecting a sustained reassessment of the UK's economic outlook rather than a single-day shock that quickly reversed.