UK Post Office notes large cash demand for USD and EUR ahead of Brexit vote
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The UK Post Office is reporting a surge to sell the pound 22 June
It's cash and therefore not so significant volume-wise but it's also a sentiment indicator toward Leave, or at least expressing concerns in that direction. Of course it's also holiday season which naturally lends itself to GBP selling as Brits travel abroad but the significant increase suggests other factors at work.
I also run a physical currency FX business and have been alerting my clients for many months as to the risks they face on GBP exposures.The complacency coming back from many of them on hopes of a Remain outcome are notable and somewhat disturbing. Having said that many are on standby to trade tomorrow and through the night if possible.
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