Bullet Report | Pound drops on Brexit worries, Yen benefits from risk aversion

Sterling plunges to 2 months low level as “Brexit” fears is rising. An ORB/Guardian “Brexit” Poll showed that 55% of participants wanted to leave, the result of the poll has sent Sterling tumbling on Friday.

Currencies: USDJPY dips through last week’s low of 106.24 and could be heading to 105.54 low as risk aversion gripped Asian financial markets. To the downside, the strong support can be seen at 105.50, then 105 psychological level. GBPUSD declined to almost 2 month low level 1.4178 last Friday. The trend continues falling to lower 1.4154 after market reopened on Sunday. Support is seen at 1.4150 with next support at 1.4100.
Stocks: Asian Stock markets were tumbling sharply on Brexit worries as Nikkei 225 is down -561 pts, or -3.51% and hit a five week low. Shanghai Composite Index closed with -2.76% declined due to slightly worth than expected China Industrial Production which released during Monday Asian session today.

Oil and Gold: Crude oil prices continued to fall after reaching $52 s barrel alongside the S&P 500 in the final hours of last week’s trade as risk aversion struck financial markets. After hitting a four week high level of $1284 during early late Asian/early European session, Gold prices remained bouyant for fourth session in a row and are currently holding steady around $1282 level.

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