The Pound fell against all of its market peers after the
survey which showed more Britons preferring to leave the European Union. The
GBP/USD pair lost all of its Friday gains reaching a three week low of 1.4353.
Campaigners to get Britain out of the European Union have
moved into the lead, according to YouGov poll that increases the pressure on
Prime Minister David Cameron with less than three weeks until the referendum (June
23). The Leave campaign is already throwing the global market into turmoil and
undermine confidence in the 28-nation trading bloc.
With the uncertainty of Britain to remain in the European
Union, the pound is under serious pressure after Brexit polls released over the
weekend showed further support for the leave campaign which lead to the drop in
the price level in the early hours of today.
Later today, the Fed Chairwoman Janet Yellen would grab all
the attention when she speaks on economic outlook and monetary policy in
Philadelphia as investors remain skeptic of any further hawkish comment after
Friday’s awful employment figures.
By Ughamadu Sixtus
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