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Sterling Rises But Stocks Dip As Brexit Keeps Nerves Taut

Posted by Chris Advincula on Jun 21, 2016 6:19:59 AM


June 21 Reuters) Sterling hit a seven-week high against the dollar on Tuesday on expectations Britons will vote to stay in the European Union but stocks failed to build on the previous day's gains as this week's referendum kept many investors cautious.

Two opinion polls published on Monday put the "Remain" camp ahead before Thursday's vote but another gave "Leave" a slight lead.

The dollar retreated against most major currencies with the exception of the yen, which has retreated this week on indications the campaign for Britain to stay in the EU has regained momentum.

"Financial markets appear to be taking the view that the race may well already be run, which given the twists and turns seen already in this campaign may well be extremely far sighted, or dangerously premature. With more polls due out later today we can expect to see further volatility unfold in the even of a move either way," said Michael Heson, chief strategist at CMC Markets in London.

Click on the link below to see the full story from Reuters: (by Nigel Stephenson)

Sterling rises but stocks dip as Brexit keeps nerves taut





Topics: GBPUSD, U.K. Economy, Europe, Forex, BREXIT


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