Sterling rises further on EU referendum outlook
21 June 2016
- From the section Business
The pound hit a seven week high on Tuesday, adding to Monday’s strong surge.
On Monday the pound jumped the most in a single day against the dollar in seven years.
The currency market has been reacting to polls which have recently suggested the Remain campaign gaining ground.
A short while ago the pound was up 0.36% at $1.479. Last week it was trading close to $1.41, its lowest level since early April.
Bookmaker Betfair and Ladbrokes show a 73% chance that the UK will vote to remain in the European Union.
On Friday Betfair was predicting a 65% chance of a British exit.
A vote to remain in the EU would reassure investors who were unsettled by the prospects of uncertainty caused by a vote to leave.
The pound had slid sharply over the course of last week, after polls appeared to indicate the Leave campaign was taking the lead.
This post was written by FSB News