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    Sterling Rallies as Brexit Worries Ebb, Yen Weakens

    (Jun 20 Reuters) Sterling rallied on Monday after opinion polls swung in favor of the campaign for Britain to stay in the European Union, boosting risk sentiment and sending the safe-haven yen tumbling.

    The implied probability of a "Remain" vote in Thursday's referendum rose to 72 percent after falling as low as 60 percent last Thursday, according to odds from gambling website Betfair.

    Sterling rose 1.7 percent to $1.4604. it earlier reached $1.4625, its highest in three weeks, as it extended a recovery from Thursday's more than two-month trough of $1.4013.

    The pound jumped 2 percent to 152.51 yen, pulling away from a three-year trough around 145.34 also set on Thursday. The euro fell 1 percent to 77.75 pence EURGBP.

    Investors reacted after three of six opinion polls published over the weekend showed a shift towards keeping Britain in the EU, with some citing the killing last week of pro-EU lawmaker Jo Cox as a factor.

    "The outcome of the referendum is wide open again," said Ulrich Leuchtmann, currency strategist at Commerzbank. "But at least "Leave" no longer seems the most likely scenario. Should the next polls suggest that the change of sentiment persists euro/sterling may ease further."

    Click on the link below to see the full story from Reuters: (by Anirban Nag)

    Sterling rallies as Brexit worries ebb, yen weakens

     

     

     

     

     


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