I trade currency all of the time, and you have to understand there is a vast difference between how investors feel in these situations (fear..
) and the reality. The price drop was mostly based on the fear/speculation angle causing a massive sell off than any drastic change in the state of affairs. The value of currency is sort of an imaginary number in that it isn't always scaling with indicators of real value -- exports, income levels, GDP, etc. Much of that hasn't changed for the UK, and the currency will start tracking the real numbers in a couple of weeks. I mean, until article 50, the UK is still part of the EU. What's really different? It's all bearish anxiety rather than actual trouble. Even then, there isn't any rush to invoking the separation. It looks like the UK government is doing the right thing and getting their ducks in a row, which will again inspire investor confidence. Most of the panic on the currency markets was people who were holding pounds sterling swapping to US dollars. Or, they sell pounds, buy USD and invest in gold. (which seems to be what many are doing based on the gold prices). When the panic is over in a week or so, it'll bounce up.