Sterling started the new trading week with new strength and is on track for its best session since October 2009 after surging on the latest opinion polls on Britain’s EU referendum.
Since the killing of the pro-remain MP Jo Cox last week, there has been a turnaround in the polls over the weekend which showed a slight swing back in favour to vote to remain in the EU in the June 23 referendum.
In recent weeks, the pound was battered on Brexit concerns as the campaign for the UK to vote in favour of leaving the EU was leading.
The first opinion polls on the EU referendum have suggested the “remain” campaign had slowly gained momentum, helping lift the pound up 1.6 per cent at $1.4590, making it the best performing major global currency against the US dollar.
All other major currencies bar the yen were higher against the greenback on Monday morning in Asia.
David Cameron, UK prime minister, invoked the memory of Cox to press the case for Britain staying in the EU, amid signs of tensions in the Leave camp as the referendum campaign enters its final week.
Cox’s death led to the suspension of the referendum campaign, putting the brakes on the “leave” campaign’s surge.