Virgin’s Branson: Pound to plummet in case of no-deal Brexit - BBC

Omkar Godbole FXStreet Contributor

Virgin Group tycoon Richard Branson is the latest to join the bandwagon of analysts and corporate leaders forecasting a big drop in British Pound in case of no-deal Brexit.

“The pound was at $1.53 when the referendum took place. The pound today is at $1.22, $1.23, and the pound will collapse to parity (one for one) with the dollar is there is a hard Brexit,” Branson said, according to BBC.

Branson’s portfolio includes airlines, financial service and media companies and expects big losses for all his UK interest in case of no deal Brexit. “It would be devastating for many Virgin companies,” Branson said.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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