Sterling down on Brexit concerns

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Monday, Feb 22 2016

The UK will vote on whether to remain in the EU on Thursday 23 June, Prime Minister David Cameron has said. The prime minister made his historic announcement in Downing Street after briefing the cabinet. He said he would be campaigning to remain in a reformed EU - and described the vote as one of the biggest decisions "in our lifetimes". Ministers immediately divided up into the leave and remain camps as the campaigns got under way in earnest.

The UK's EU membership referendum is a "once-in-a-lifetime chance to vote for real change", Boris Johnson has argued as he declared support for an exit. The London Mayor confirmed earlier to reporters that he would be campaigning to leave the union. In a 2,000-word column for The Daily Telegraph, the Conservative MP said staying inside the union would lead to "an erosion of democracy". The prime minister has said leaving the EU would be a "leap in the dark".

Sterling is currently being traded around 1.43 area. Pair is likely to find support around 1.4250 handle and resistance above 1.4380 level. There will no major data releases later today.

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