Brexit impact on jaguar land rover

Abstract

Britain's referendum on 23rd June 2016 concluded with majority voting for the UK to exit the European Union (EU). The next step for United Kingdom (UK) would be to invoke the Article 50 of the Lisbon Treaty, to set the formal legal process for withdrawal in motion. UK will get two years to negotiate its withdrawal agreement and terms. The post-referendum panic plunged financial markets into turmoil globally, triggering a rush of capital from the pound and other assets based in the British economy, to traditional safe-havens like gold, Japanese yen and Swiss franc. This has led to a steep fall in the value of the sterling pound in the weeks following the referendum (Hutton, 2016).