What the 'Flash crash' in the British pound may signal

If you were a buyer of British equities, Brexit didn’t seem to matter.

Since late June, shortly after Britons voted to leave the European Union, the FTSE-100 has marched ever upward and now trades near record highs. The FTSE-250, whose member companies are focused on the British economy, has reached an all-time high. The British economy was strong, the Bank of England was working its magic and many economists and business commentators agreed that “Project Fear” – the forecasts of economic doom spun by the Brexit-fearing mob – proved to be false alarms.

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