Trips to London might be significantly cheaper for Irish travellers if the UK goes...
George Soro, the billionaire currency speculator, has warned that sterling faces a potential Black Friday if it chooses to leave the EU.
"Sterling is almost certain to fall steeply and quickly if leave wins the referendum [...] I would expect this devaluation to be bigger and also more disruptive than the 15% devaluation that occurred in September 1992, when I was fortunate enough to make a substantial profit for my hedge fund investors at the expense of the Bank of England and the British government," he told The Guardian.
This could reduce the value of the currency by close to 20%, and draw it towards parity with the euro - he describes this as a "method of joining the euro that nobody in Britain would want."
He added that there is little scope for the Bank of England to cut interest rates and that exporters will not see a bump in sales which will be proportional to the size of the currency's fall - and that this will leave "most voters considerably poorer."
Mr Soro believes that much of the debate over whether Britons would be better off financially inside or outside of the EU has ignored the effects that a major currency shock could have.
"Too many believe that a vote to leave will have no effect on their personal financial positions. This is wishful thinking. If Britain leaves the EU it will have at least one very clear and immediate effect that will touch every household: the value of the pound would decline precipitously.
"A vote to leave the EU would also have an immediate and dramatic impact on financial markets, investment, prices and jobs."
The pound rose yesterday as investors responded to opinion polls which indicated an increase in support for the 'remain' side in the 'Brexit' vote.