Following the decision of the UK to exit the EU there is now fear of a potential ripple effect on other residing EU countries. Angela Merkel the German Chancellor gave a statement that she fears the United Kingdom could be just the first of several nations to pull out of the alliance. France, the Netherlands, Hungary, Austria and Finland could lose any incentive to stay. Leaders are fearing a ripple effect and discussing how to remain calm and reassure the remaining EU countries.
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The GBP/USD exchange rate was under pressure before the first Scottish independence referendum and the fact that the Scots voted 62% to 38% to remain in the EU last week, the pound could be under even more pressure is Scotland asks for another referendum. This can put even more pressure on the sterling.