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George Soros predicts Brexit 'Black Friday'

Billionaire George Soros, who famously profited by betting against the pound in a 1992 currency crisis, has predicted a plunge in the sterling if Britain votes to leave the European UnionBillionaire George Soros, who famously profited by betting against the pound in a 1992 currency crisis, has predicted a plunge in the sterling if Britain votes to leave the European Union. The business magnate forecast an even steeper drop than occurred on “Black Wednesday”, which forced Britain to withdraw from the European Exchange Rate Mechanism, in an article in the Guardian newspaper published late Monday. “If Britain leaves the EU it will have at least one very clear and immediate effect that will touch every household: the value of the pound would decline precipitously,” the 85-year-old wrote.

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