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British pound hits 2-month minimums on Brexit fears

On Monday, the British pound sank to its two-month minimums against the evergreen buck. Furthermore, the UK’s currency demonstrated multi-year minimums against the Japanese yen, following concerns over Britain’s referendum on the EU membership next week.  

The currency pair GBP/USD sagged 0.49%, trading at 1.4185, the lowest value since April 18.

The British pound has sold off during recent trading sessions amid sincere fears that Britain’s exit from the EU according to the June 23 referendum could generate a period of uncertainty in financial markets and spur growth in the region.

Friday’s opinion survey conducted by ORB International gave support for a Brexit at approximately 53%, against just 47% for remaining.

The British pound reached two-month minimums against the common currency, with the currency pair EUR/GBP gaining 0.62% at 0.7941.

Japan’s safe-haven currency, which tends to be sought out by traders during market uncertainty, managed to sear to multi-year peaks against sterling and the common currency. 

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