UK pound is lower today, thanks in large part to concerns over the fact that there is uncertainty over what will happen when citizens vote in a referendum on European Union membership.
The date for the referendum on remaining in the European Union has been set for June 23, 2016. There are concerns that a Brexit could really happen. An opinion poll from ICM found that 42% of respondents wish to remain in the European Union and 40% want to leave. These close numbers have many worried that a Brexit is really possible.
Analysts believe that the negative impacts on the United Kingdom, should a Brexit be determined on, would be almost immediate. As a result of this concern, the UK pound has been falling recently, to levels not seen in years. It’s not helping the situation that London Mayor Boris Johnson is endorsing the campaign to leave the European Union.
With high-profile leaders split on the issue, and with a number of concerns about the situation, it is little surprise that sterling is losing ground pretty much across the board.
At 14:56 GMT GBP/USD is lower, dropping to 1.3915 from the open at 1.4017. EUR/GBP is higher, gaining to 0.7892 from the open at 0.7861. GBP/JPY is down to 155.2940 from the open at 157.0570.
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