Foreign Exchange Daily Market Update 07/06/2016

Tue, June 07, 2016

Pound Surges Against the Dollar

The Pound rose as much as 1.5% versus the Dollar within moments earlier this morning, as a gauge of expected volatility surged before the U.K. votes in just over two weeks on whether to stay in the EU.

Sterling’s climb comes after it fell as much as 1.1% in early trading Monday, as three polls were released showing more Britons were in favour of quitting the EU rather than staying. Two more surveys that came later the same day showed slim leads for the “Remain” camp.

The Pound fell to a seven-year low of 1.3836 in February, and remains the worst performing developed-market currency this year.

The Pound was 0.5% stronger at 1.4517 against the Dollar as of 6:32 a.m. after appreciating to 1.4660. The short-lived 1.5% gain was its biggest intraday advance since March 17. The Pound rose to 1.2847 against the Euro.

Data to look out for today.

Not Much Data Out Today

CURRENCY PAYMENTS MADE SIMPLE

PRESS RELEASE

KBRFX was mentioned in the Essex Chronicle for the top 100 companies by turnover in Essex http://www.essexchronicle.co.uk/100-Essex-businesses-revealed-annual-survey/story-25140555-detail/story.html

Data Releases