Tarnished Sterling: Global Warning on Brexit

At 7:07 last Friday in Hong Kong, the British pound suddenly plummeted: In the next two minutes it fell 6.1 percent, to $1.18, its lowest level since 1985. In the next half hour, it regained most of the loss, ending at $1.24 when the clock struck 7:39. A wild ride, you might say, but allâ??s well that ends well. And you would be wrong.