Brexit Blues Taking its Toll on UK Pound - Rabobank
Stefan Koopman, Market Economist at Rabobank, notes that the Pound
sterling briefly fell to an almost two-year low of 0.81 against the
euro.
Key Quotes
“Also on a
tradeweighted basis, the currency hit levels last seen in November 2013.
The Brexit blues played, once again, a large role. The latest ICM
opinion poll on the EU referendum showed that 43% of voters wanted to
leave the EU and 44% were opposed to a Brexit, leaving 13% undecided.
This,
of course, is the thinnest of margins and the vote could still go
either way. Moreover, investors haven’t forgotten the massive miss in
the 2015 general election forecasts, which had Labour and the
Conservatives even on the night before the election. Tellingly, the
“Poll of Polls”, which is a moving average of the six most recent polls,
now projects a 50/50-split. It’s either In... or Out.”
(Market News Provided by FXstreet)
