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Brexit blues taking its toll on UK pound - Rabobank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    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.”
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