Brexit – Trading The Pound!

On June 22, 2016 | By | In News, Political

The major news dominating online forex trading this week has been the debate over the UK’s membership of the European Union.

Just a few short days ago, the polling suggested that there was a real and strong possibility of the United Kingdom voting to leave; however, in just the past day or two a series of new polls have emerged which show a shift in public opinion and demonstrate that the UK is increasingly likely to stay a part of the EU. This opinion shift has sent strong signals to online forex trading professionals.

The value of the British pound surged with its highest one day gain since 2009 on the back on the latest polling news that suggested the British public would ultimately not favour exiting the European Union. With the vast majority of economists, banks and financial institutions making it clear that a British exit from the EU would most likely be economically damaging, the reduced likelihood of this has bolstered the British pound significantly.

However, with the referendum still close, online forex traders should pay close to the pound’s value over the coming days as there is still a real chance of wide value fluctuations.

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