Mubasher: Prime Minister David Cameron announced his resignation following Britain's vote to leave the European Union (EU).
Britain needed “fresh leadership” to take it in the new direction chosen by voters, the Financial Times quoted Cameron.
With a turnout of 72.2%, 51.9% voted to sever Britain’s 43-year membership of the EU, 48.1% to stay in, according to the final results announced in the early hours of Friday. .
The British pound roughly plunged 7.9% by 7:00am GMT to $1.36, its lowest level since 1985, according to MarketWatch.
The Bank of England said in a statement on Friday it would take all necessary steps to shield Britain's economy from the shock decision by voters to pull the country out of the EU.
