Sterling at highest in 6 months after latest polls favour Remain

Sterling jumped to its highest level in six months against the dollar on Thursday after the latest polls gave the “Remain” Camp in the lead ahead of the “Leave” camp.

Voting gets underway today in the UK on whether Britain remains in the European Union.

Two polls were conducted, both giving Remain a lead. A ComRes Polls conducted for the Daily Mail newspaper and ITV television showed Remain at 54 per cent versus Leave’s 46 per cent. The YouGov for The Times newspaper in London poll showed 51 I favour of Remain versus 49 for Leave.

GBPUSD gained 0.6 percent at $1.4793 after touching $1.4847, its highest since December.
GBPJPY rose to a two-week high of 154.75 yen.

USDJPY was up 0.2 percent at 104.64 yen after moving the previous day in a narrow 104.85-104.31 range.

The US dollar has been weighed down after Fed Chair Janet Yellen’s testimony to the US Congress over the past two days, where her cautious tone led investors to push back the next rate hike.

EURUSD extended yesterday’s advance to hit a high of $1.1349 in the Asian session, getting a lift after the latest Brexit polls which helped concerns and diminished the prospects of Britain leaving the EU.

The post Sterling at highest in 6 months after latest polls favour Remain appeared first on FXTM Blog.

Source:: Sterling at highest in 6 months after latest polls favour Remain

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