LONDON (Reuters) - Currency transfers by British small businesses and consumers jumped 500 percent overnight as they reacted to a huge fall in sterling on the news that Britain had opted to leave the European Union, money transfer firm HiFX said on Friday.
"One client has called it "a bloodbath for the unprepared," said Chris Towner, chief economist at HiFX.
"Those making these transfers are a mixture of clients who had held off in the lead up to the vote - and British expats around the world taking advantage of the drop in sterling."
Sterling sank 10 percent in value to its weakest since before the 1985 Plaza Accord on Friday and was last trading at $1.3704 , down nearly 8 percent on the day.
(Reporting by Anirban Nag)
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