GBP continues to trade volatile dictated by UK referendum polls - BNZ

Kymberly Martin Senior Market Strategist at BNZ, suggests that the GBP continues to trade a volatile path dictated by UK referendum polls.

Key Quotes

“A couple of polls released by ICM in the early hours of this morning showed ‘Leave’ ahead by 5 percentage points. Meanwhile betting sites still favour ‘Remain’ by a large margin. The GBP/USD traded a spiky 1.5% range overnight. It now trades at 1.4210.

Recall, in late February when ‘Brexit’ fears were heightened, the GBP/USD traded down to lows of 1.3840. It seems fairly certain the GBP has plenty further capacity to fall if a ‘Brexit’ vote prevails next week. Equally, a knee-jerk relief jump will occur on a ‘Bremain’ result.”