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June 2016

Pound is up ahead of Brexit vote

Published: Tuesday 21 June 2016

The Pound continued its strong growth today following recent polls in the Financial Times and Daily Telegraph both giving the Remain camp 53% vs 46% lead over Leave. These gains were further increased following today’s poll which put the Remain camp 1% ahead. Sterling hit weekly highs of 1.3034 vs EUR and 1.4767 vs USD as a result.  With the referendum less than 2 days away, economic data is likely to have less of an impact.  This was exemplified when Germany ZEW Economic Sentiment smashed expectations of 5.1, with a reading of 19.2.  The Euro didn’t strengthen at all on the back of this. 
 
All attention now looks to further opinion polls and bookmakers predictions. 

Latest FX news by Joe De Berniere