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Sterling Slips

Sterling SlipsSterling Slips

The sterling slipped against the euro and dollar on Wednesday, with investors worried that the latest polls still show Britons who want to leave the European Union at a referendum in June neck-and-neck with those who want to stay, CNBC reported. The pound had fallen some 7% between mid-November and mid-April, when it made a substantial recovery after US President Barack Obama stepped in on the side of the “In” campaign, saying Britain would be at the “back of the queue” for any transatlantic trade deal. But with surveys conducted since Obama’s intervention still pointing towards a very closely fought referendum on June 23, and with only six weeks until the ballot, investors have started to become more worried about the risks. A poll from market research company ICM on Monday showed 46% of those likely to vote wanted to leave, compared with 44% who wished to stay and 11% who were undecided. Sterling was down 0.3% against the euro at 78.98 pence. Against the dollar it was down 0.1% to $1.44.

 

Financialtribune.com