Currency market points to Brexit stay vote: Najarian

Sky and the BBC also reported Cox’s death.

The most recent poll, by Ipsos Mori for the Evening Standard newspaper, found 53 per cent of respondents will vote to leave, compared with 47 per cent for “Remain”, excluding those who didn’t yet know.

“Brexit concern has been brought back to the fore”, said Jasper Lawler, analyst at CMC Markets trading group. Just one day earlier, Cox had been on the Thames as both sides in the referendum rallied at sea.

Prime Minister David Cameron tweeted that he was cancelling a planned pro-EU rally in Gibraltar following the shooting.

A series of rallies followed before the currency fell again after new polls showed a majority of the British public wants to leave the EU. We have to get out of the European Union to have the deal with India.

“The cost will be very high also for us”, he said, adding however: “The EU will survive, I have no doubt, it is still much easier to survive when you are 27 member states than completely alone”. With opinion polls showing support for “Leave” in the lead and investors already in a highly defensive mood, the world’s most powerful central banks are nervously awaiting the outcome.

The safe-haven yen also hit a three-year peak against sterling GBPJPY= and a four-year high versus the Australian dollar AUDJPY= as investors shunned higher-yielding but riskier currencies ahead of next week’s referendum to determine whether Britain will stay in the European Union.

Another focus for the market next week will be a ruling by Germany’s Constitutional Court on June 21 on the emergency bond-buying plan devised by the European Central Bank during the financial crisis, which has the potential to upset the ECB’s current money-printing program.

A UK-wide BMG telephone poll for The Herald put Remain ahead on 46% with Leave on 43%, and 11% undecided or unwilling to say.

“London bookies and the betting industry are still in the “remain” camp”, he said.

“In the event of a vote to leave, we will see some more risk-averse movement”, said Shaun Osborne, chief currency strategist at Scotiabank, who expects the Canadian dollar could quickly weaken to between C$1.33, or 75.19 USA cents, and C$1.35. “I think we no longer have a favourite in this referendum”, he told BBC television.

After a tumultuous week, USA stocks were lower in early NY trading, though MSCI’s all-country world stock index was up 0.5 percent and the FTSEurofirst 300 gained 1.1 percent.

“City watchers are beginning to take the threat seriously and start to price in the possibility of a Brexit”, said Joe Rundle, head of trading at ETX Capital.