GBP hits 3-week highs as it marks 1.4714 agaisnt the USD throughout yesterday’s session. Buying for the British Pound comes as polls start to show improved support for the remain camp. The Brexit referendum is now only 2 days away, voting is due on Thursday and tentatively results could be out as early as the next morning. The electoral commission estimates results could be out Friday around 6am BST.
Asia was higher this morning as sentiment got lifted and as fears of a Brexit somewhat eased and oil recovered. Yen weakened against the USD after re-testing last Thursday’s USDJPY lows, with lows for the USDJPY today capped at 103.58 so far.
The USD is selling off again and has now started its third day of selling after already two consecutive days in red. The US Dollar index is currently at 93.58 after last week’s highs of 95.32.
From today’s economic docket we have the results of the German Zew Survey for June, and we also have Yellen testifying in front of the Senate’s banking panel. In addition today we’re also expecting the ruling of the German Constitutional court on the legality of the ECB’s OMT.
