As we could see the recently UK currency plumbed new 31-year lows against dollar. More investors extract their capitals to less uncertain countries like U.S. In addition, the Chair of the Federal Reserve Yellen denounced that there might be a raise in interest rate in the end of the year which could lead to more depreciation of UK currency.
Did the citizens in United kingdom foresee the outcome of Brexit? The answer might be yes, but only for particular group in UK. If we see the demographic of the vote, the age should be the biggest factor that turn out the decision of leaving EU. The baby boomers have the strong distrust of authority and put a great deal of emphasis on material success, and for millennials who take technology as granted and at ease with diversity. The millennials have more opportunity to gain the higher degree than baby boomers, therefore, the younger people could be more insist to stay in EU especially for who have professional occupation of predicting economics outcome . However, the elderly are more likely to vote and participate political issue that turns out more votes for leaving.
The education opportunity has been improved greatly over the decades and there’s no reason to blame on any particular groups, however, the government of United Kingdom should be really well-prepared for the upcoming low economics situation and try to save their currency value.
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