What a manic Monday. We’re looking at the Pound’s biggest single-day jump in nearly six years.
Sterling rallied following as opinion polls suggesting a swing in favour of voters opting to remain in the European Union at this week’s referendum.The pound climbed 1.4pc to USD 1.4560 after rising as high as USD 1.4625 earlier, sending the perceived safe-haven yen down.
The implied probability of a Remain vote in Thursday’s referendum rose to 72 percent after falling as low as 60 percent last Thursday, according to odds from gambling website Betfair. The 23 June referendum is still wide open, however, but the leave no longer seems the overwhelmingly likely scenario.
To read further insight from the DailyFX team on the market impact of a potential Brexit and other currencies movements, visit the website.