Foreign Exchange Daily Market Update 21/06/2016

Tue, June 21, 2016

Pound Maintains Biggest Gain In 7 Years

The Pound maintained its biggest two-day gain against the Dollar in more than seven years as opinion polls showed Britain’s referendum on EU membership is still too close to call two days before the vote. The currency climbed to as high as 1.4783 against the Dollar, stronger than at any point since PM David Cameron announced the date of the vote in February.

Sterling rose for a third day as a survey of 800 people b had the “Remain” campaign at 53% and “Leave” campaign at 46% among those certain to vote, once “don’t knows” were stripped out. In contrast, a poll of 1,652 voters on Monday showed “Leave” at 44% and 42% for “Remain.”

The Pound was little changed at 1.4783 against the Dollar as of 9:11 a.m. after surging 2.4% versus the Dollar on Monday and 1.1% the previous day. That back-to-back gain of 3.5% was unseen since December 2008 and erased almost all of its loss for 2016. The currency was at 1.3027 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

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