UK pound is swinging wildly today, partly due to a suspected fat-finger trade, and partly due to the speculation accompanying the possibility of a Brexit from the European Union. There is a lot of uncertainty right now, and sterling has been moving between gains and losses the last couple of days.
Yesterday, the UK pound dropped dramatically against its major counterparts as a poll indicated that those in favor of a Brexit were ahead of those in favor of remaining. The latest results, however, indicate that more UK citizens are in favor of staying — but the margin is razor thin.
After seeing the results, there are some thoughts that an accidental trade, or a fat-finger trade, triggered some dramatic gains for the sterling, especially against the US dollar. It’s been a bit wild the last couple of days, and things are calming down a bit. However, the UK pound is still mostly higher against its counterparts right now, logging some gains as things relax and as Forex traders go back to speculating about a Brexit based on the latest poll numbers.
At 14:13 GMT GBP/USD is higher, moving up to 1.4592 from the open at 1.4442. EUR/GBP is lower, dropping to 0.7786 from the open at 0.7862. GBP/JPY is up to 156.29 from the open at 155.33.
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