Significant leaps in the pound and also in the euro just over one hour before polls close. It may or may not be those exit polls organized by hedge funds, something which is not certain and certainly not public. It may also be the reports about a high turnout in Scotland, where the Remain camp has a lead.
We are still not at the highs of the day at 1.4945, but the swing up after hours of calm looks suspicious. If the move is fake, it may be a sell opportunity.
Update: UK leaves the EU – it is official – expect more crashes
We have already seen a jump earlier in the day, but that was on top of data coming out: favorable polls for the Remain camp released by Ipsos Mori and Populus. The move was followed by a big slide and the pair eventually relaxed while hugging the 1.48 level. We are now witnessing a jump worth nearly 90 pips.
However, it is important to remember that we just had the closing bell in New York. The last hour of voting is already in much thinner liquidity, when only Australia and New Zealand are officially open.
More:
- EU Referendum Preview: Positioning, Scenarios and Key Results Releases
- Is your broker Brexit ready?
- Brexit or Bremain – all the updates
Here is how it looks on the pound/dollar chart:
— more coming
