Market News

Over the last few months, financial markets and investors, banks and nations have been focused on one thing--Britain’s referendum to leave or remain as an EU member.

The Euro and the Pound Sterling are both edging higher in today’s trading, just one day ahead of an important vote to decide the fate of both the UK and the European Union. Currency strategists expect significant volatility ahead for both currencies in the hours ahead of the referendum, with residual choppiness to likely follow through the week’s end.

Asian stocks moved up slightly on Wednesday as the countdown to tomorrow’s Brexit vote made investors jittery.

The Pound Sterling earlier today touched a 7-week peak versus the US Dollar as new polls show the “stay” campaign pulling slightly ahead in the upcoming Brexit decision.

The Pound Sterling is currently rising against the US Dollar and is on track to post the largest single day’s gain in seven years.

Asian stocks were higher and the dollar weaker Tuesday. The pound retreated after its biggest jump since 2008 as polls suggested Thursday’s vote on European Union membership will be close.

Oil prices advanced higher in early Asian trade Monday supported by a weaker dollar and diminished worries over Britain's possible exit from the European Union.

The significance of this week is difficult to assess, as although there is much less crucial data due, a British referendum on E.U. membership is being held on Thursday, and it is likely to have a strong effect on markets everywhere, especially in the event that Britain votes to leave.

Campaigning has been halted for the third day following the murder of MK Jo Cox, but polls continue to report on the status of the upcoming June 23rd Brexit vote and the numbers are almost tied.

Asia markets traded higher on the final day of the week but were set for weekly losses as investors moved to safe haven assets amid concerns surrounding key central bank decisions and the U.K.'s upcoming June 23 referendum vote on its future within the European Union.

After the Japanese central bank failed to ease further, despite a stagnating economy, the Japanese Yen surged versus the US Dollar, gaining better than 2% to strike the strong price in nearly 24 months.

The Bank of Japan (BOJ) held rates steady Thursday, sending the yen sharply higher and sparking renewed speculation on whether policymakers would intervene to halt the currency's rise.

The Swiss Franc and Japanese Yen, both deemed safe haven currencies by FX traders, lost ground in today’s trading as appetite for risk is whetted after a rally in global equities.

Asian shares remained slightly weaker after recovering slightly from near three-week lows on Wednesday after U.S. index provider MSCI decided not to include domestic Chinese equities in its indexes.

The Pound Sterling continues to be hammered as the “horse race” that is the Brexit decision nears the wire.