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Britain's Cameron warns on sterling

Britain's Prime Minister, David Cameron, warned the citizens that, should the nation exit the European Union, amid June's referendum, there will be a fall in the sterling's value.

Britain's exit from the EU could increase prices

Such a scenario, where the sterling depreciates, could impose greater obstacles to the economy, such as increasing the prices at the shops, as well as the imports becoming more expensive.

As per the latest governmental analysis and survey, the sterling could drop 12%, should it be a scenario of a Brexit, with the footwear and clothing cost appreciating 5% on a yearly basis, and the weekly food and beverage escalating 3% per year.

According to Asda's chief executive, Andy Clarke, a Brexit could bring uncertainty to the nation and specifically on the prices.

Moreover, the supporters of a Brexit said that those who are in favour of the U.K remaining in the European Union spread the fear of uncertainty thus placing additional pressures on the sterling.

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Monday, 23 May, 2016 / 11:45

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Source : https://www.argusfx.com/en/research-education/market-analysis/news/britain-s-cameron-warns-on-sterling

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