Soros’s Prediction Before the Fall: Warns of Another Fall in the Pound

If anyone would know what effect the so-called Brexit could have on the currency markets, it is George Soros.

Mr. Soros made his name in 1992 when Quantum, his investment fund, pocketed more than $1 billion by betting, correctly, that the Bank of England would fail to hold the British pound in the European Exchange Rate Mechanism, a fixed-currency arrangement that predated the 1999 birth of the euro.

This time around, Mr. Soros thinks not only that leaving the European Union is a bad idea, but that “too many believe that a vote to leave the E.U. will have no effect on their personal financial position.” Read more at NY Times.