GBP (British Pound)

[winston]

Scotland split jitters send sterling to 10-month low By Marc Jones

(Reuters) - Sterling fell to a 10-month low while British shares and government bonds showed strains on Monday, as a poll put the campaign for Scotland to split from the rest of the UK in the lead for the first time -- just 10 days before the final vote.

With a ceasefire in Ukraine tentatively holding and markets underpinned by Chinese stimulus hopes and last week's salvo of ECB support measures, European investors were left mulling a potentially messy divorce in the UK that, up until now at least, most had viewed as an unlikely risk.

But in Europe, attention was focused on Scotland's Sept. 18 vote on whether to break away from the rest the United Kingdom. A weekend poll showed the "Yes" to independence campaign on 51 percent versus 49 percent in the "No" camp.

Though it excluded those who would not vote and did not know how they would vote, it overturned the 22-point lead the unionist campaign had just a month ago and showed the momentum now being carried by the split side.

It rattled sterling which saw its biggest fall in 13-months on the dollar in Asia to $1.6169, though there was little movement beyond that in early European trading.

London's FTSE, however, was the region's worst performing bourse down 0.4 percent with 6 of its 10 biggest fallers based in Scotland while bond markets saw UK yields tick up. [.EU]

"The pound is predictably taking a hit, my base case is still that there won't be a split but should there be a yes vote the pound will look vulnerable because of the 12-18 months of uncertainty that would lie ahead," said Neil Williams, chief economist at UK-based fund manager Hermes.

Though the uncertainty was largely confined to the UK, it gave the rest of Europe a chance to cash in on some of the previous week's strong gains. The European Central Bank's new salvo of support measures announced on Thursday continued to weigh on the euro and kept core euro zone bond years hovering at all-time lows. [GVD/EUR]

In contrast to sterling's sharp moves, other major currencies were treading water. The dollar was steady on the day at 105.09 yen, remaining shy of its near six-year high of 105.71 touched on Friday.

"The less extreme positioning in sterling and the looming Scottish referendum may mean that sterling lags behind the euro during the days ahead," Marc Chandler, global head of currency strategy at Brown Brothers Harriman in New York, said in a note to clients.


Source: Reuters

[winston]

Sterling falls to seven-year low over Brexit risks

Source: Reuters

http://www.thestar.com.my/business/busi ... xit-risks/

[winston]

Economists See Pound Falling Futher On ‘Brexit’

29 of 34 economists see drop to $1.35 or below on leave vote

Sterling already at seven-year low as EU campaign heats up

Source: Bloomberg

http://www.bloomberg.com/news/articles/ ... y-try-1985

[winston]

HSBC’s Brexit Forecast Says Sterling Could Tumble 20% to a Three Decade Low

By MIKE BIRD

If Britain votes to leave the European Union on June 23, the pound could fall by between 15% and 20% against the dollar, according to HSBC.

Source: Wall Street Journal

http://blogs.wsj.com/moneybeat/2016/02/ ... d=yahoo_hs

[winston]

Sterling flags as polls point to Brexit

by David Reid

Source: CNBC.com

http://www.cnbc.com/2016/05/04/sterling ... 284a1255a1

[winston]

If you're looking for a way to play the Brexit vote, try the CurrencyShares British Pound ETF (NYSE: FXB), which tracks the price trend of the pound.

[winston]

Another way to play Brexit ..

The London-traded ETFS 3x Short GBP Long USD ETC (LON: SGB3) is an exchange-traded currency (ETC) designed to provide shareholders with leveraged, short exposure to sterling relative to the dollar.

SGB3 will return three times as much as the pound falls against the dollar in a day.

[winston]

Brexit! British Pound Loses 10%, At 1985 Low

By Shuli Ren

It’s gone. The U.K. is set to leave the European Union.

With already 75% of the votes counted, the Leave camp is leading with 51% of the votes, having gathered 13.3 million versus Leave camp’s 12.4 million. 16.8 million votes are needed to win the referendum.

Gambling site Ladbrokes were placing Brexit odds over 90%. The BBC has already projected Brexit.

The British pound slipped 11.6% to 1.33 per dollar lately, the lowest level since 1985. Economists have widely expected today’s pound move to be binary, either up or down 10 points.

The pound has seen some crazy moves today, with 16% range against the Japanese yen. Yen opened at 157.52 per pound, rose to as high as 133.77 from the intra-day low of 160.10. Yen was 17.8% higher at 133.93 lately.

Source: Barron's Asia

[behappyalways]

UK, currency, 50-year 3-monthly chart: The pound is in freefall after failing support of 2009. Possible support around 1.25-28 (a guess). Next good support is around 1.1.
https://www.facebook.com/pages/Bartons- ... 9071478335

[behappyalways]

31年新低　英鎊下試10算
英央行放水1.5萬億　抗脫歐衝擊
http://hk.apple.nextmedia.com/financees ... 6/19683015