Far from Brexit causing the termination of the UK economy the changes in the value of the pound were inevitable and do not represent a disaster, says the Guardian:
Sterling had to fall, regardless of the EU referendum – with such a big trade gap, it was inevitable
Brexit or no Brexit, it has been clear for months that the only way for the pound was down. When a country is running a balance of payments deficit unsurpassed in peacetime history, it is hard to make a compelling case for its currency going up.
In truth, all the referendum vote on 23 June has done is to bring forward the fall in sterling and squeeze it into a shorter period.
LATER: Thia was not the narrative one might expect to read there, but Sam Bowman offers an explanation.
@LibertarianHome Hm, disagree – Larry Elliot likes a drop in sterling because of his mercantilist preoccupation with the trade deficit.
— Sam Bowman (@s8mb) August 10, 2016