Sterling dealt fresh blow as Cameron confirms date for the referendum
After an eventful weekend for the UK sterling faced additional pressure this morning as on the weekend where the UK’s Prime Minister, David Cameron confirmed the date for the upcoming EU Referendum, Boris Johnson also created headlines by offering his support to the ‘Leave’ camp.
Sterling dropped in the early hours today as rolex replica uk markets reacted to the news negatively, with the Pound down at least 1% versus the USD, CAD, EUR and AUD at the time of writing (08.30am GMT).
Some investors may have expected sterling to show strength following the weekends headline regarding Mr Cameron’s confirmation of the EU referendum to take place on the 23rd of June this year, although Boris Johnson’s statement offering support of Rolex Replica Watches UK for the ‘leave’ camp soon took the headlines and I expect the relationship between the two to take centre stage in the run up to the election, with tabloid newspapers paying particularly close attention to the two’s differing outlooks.
A couple of incidents of note following this weekend’s UK centered headlines are as follows:
- GBP is trading at its lowest level against the safe haven Japanese Yen since November 2013
- implied volatilities on Sterling options rose to near highest levels in more than four years
- Six members of David Cameron’s Cabinet have offered support for the ‘Leave’ camp signalling rifts within his political party
- Reports suggest that up to a third of FTSE 100 companies have signed a letter offering support to the ‘Stay’ campaign, with the City of London generally Pro-EU.
- The UK public is at loggerheads on whether to leave the EU or not, with a recent Financial Times poll suggesting a 43% to 41% split in favour of remaining in the EU.
