GBP/JPY slumps -13%, weakest since Dec 2012 as Brexit priced-in

With the probability of Leave leading the vote count increasing each passing minutes, the GBP/JPY cross continues to face double whammy from both a strengthening yen and a miserably shattered GBP.

As MNI reports, “Around two-thirds of the votes counted and reported, Leave is ahead by 51% to 49% and talking heads across the broadcasters are now unanimous in their calls that there is no apparent way back for 'Remain'. Forecasts are currently in the 51.5% to 48.5% - close to the original Leave.”

GBP/JPY slumped to 135.24 (lowest since Dec 2012), before recovering some ground to137.50, still down -13%.