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June 2016

In response to the most unexpected Brexit result, there was the initial high market volatility with significant downward movements in the pound and sharemarkets. However the financial markets very quickly stabilised and recovered their pre-Brexit levels. The New Zealand financial markets have been remarkably sanguine with this country almost representing an oasis of calm in comparison to events overseas which have included, in addition to Brexit, an unexpectedly very close election in Australia, a terrorist attack in France and an attempted coup in Turkey.


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