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Despite Record Highs, Brexit Still A Losing Bet For Dollar Investors

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One day after UK PM Theresa May officially unleashed the Article 50 letter proclaiming the beginning of the end of Britain within the EU, the UK stock market had rallied over 16% since the vote that elites said would bring armageddon. However, remove the support of a collapsed currency and things look very different for a US dollar investor.

The UK’s FTSE 100 – whose megacap members get the majority of their revenue from outside the UK – looks very different when adjusted for the depreciation of the pound.

In fact, for a dollar investor, they remain underwater since the Brexit vote, having never seen a ‘return to even’ since, thanks to the near 19% collapse in cable…

 

Even as dollar investors in Japan, Germany, and the US seem to have done uniformly well…



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