Sterling at the highest level since December
Its a Brexit Day with focus being on EU Membership referendum though results will not be known till tomorrow. Last Polls opened for voting and the last surveys strongly favored a REMAIN. Evening Standard Brexit poll showed 48% leave and 52% remain. Investors’ anxiety that the UK may vote to leave the EU has shown up most clearly in sterling, which hit a low for the year of just above $1.38 in late February when the date for the referendum was announced.
It has rallied almost 4 per cent against the dollar over the last five days on signs that the Remain camp has regained some momentum. Moneycorp, a U.K. foreign-exchange provider, says it will switch off its online operation on Thursday evening and bring it back sometime Friday, the company said. “Nobody knows what the result will be, so we have to be prepared either way,” said Mark Horgan, its chief executive.
Sterling is currently being traded few points above 1.49 level. Pair is likely to find support around 1.46 handle and resistance above 1.50 level.
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