by Craig Wilson
Daily Reckoning
The UK voted to part ways with the EU in June. Since then Brexit uncertainty has left the UK’s market in disarray as the pound sterling’s fallen 18% since the referendum. While what happens in the UK might seem like “just something across the pond,” the coming months of Brexit negotiations could impact your money, investments and global trade.
The Bank for International Settlement (BIS) and the International Monetary Fund (IMF) have identified banks that are “systemically important” to the world economy. Under those same principles, the United Kingdom is a systemically important country for financial markets. What happens in the UK matters worldwide.