Currencies

British pound rises to year high

On the day of the Brexit referendum, the optimists are on the rise. Speculation on whereabouts in the UK in the EU, the British currency a boost.

Prior to the decision of the British withdrawal from the European Union the currency of the country rose to a year high against the Dollar. It rose up to 1,4842 Dollar and appreciated so that within one week, around eight US cents. Also against the Euro the pound rose compared to Wednesday.

According to analysts, the traders majority to the fact that the British for a fate of your country votes in the EU. Such a result was already “priced in almost completely,” said Angus Nicholson from the financial firm IG. Nevertheless, the markets were “incredibly nervous” and erratic price developments in the next 24 hours, “probably.”

Wait and drink tea

For the EU-Referendum, the choice in the UK since 07: 00 local time local opened; voters can vote until 23: 00. In a recent poll, a head had emerged-to-head race. The bookmakers of the country, however, remain in the EU for the significantly more likely scenario.

“Now there is to wait until the Exit Polls and the first results will be released after midnight”, wrote Commerzbank analyst Antje Praefcke in a comment. “It is important to note, that in the night the results initially can fluctuate a lot. Because the urban districts, which lean towards more of the ‘Bremain’-camp, count faster, and report accordingly.” The followers of a Brexit are in favour of the exit of Britain from the EU, while the term Bremain is to remain in the community.

zdh/who (afp, rtr)