EUR/USD hits resistance, GBP jumps on new opinion polls

Weren’t opinion polls supposed to be banned when voting is open? Well, they are out anyway and they do have an impact,. Ipsos Mori  show 52% for Remain against 48% for Leave. This is better  for Remain than the previous polls. Also  Populus shows a  gain for Remain with 55% against 45%. This joins polls released late on Wednesday that pushed the pound higher.

In addition, the Ipsos Mori poll shows that the economy is back in the game: immigration was the leading concern for a very long time and now the economic implications have returned to center stage. This is good for the Bremain camp that was focusing on the economy and bad for Brexiteers that focused on immigration. The previous Ipsos Mori poll showed 49:43 for Remain, so this is a big shift.

The FT’s Brexit Tracker continues showing a 2% lead for Remain, but the percentage points are higher:48:46 against 47:45, meaning less undecideds and less chances of last minute changes.

The pound was the first to jump and cable reached 1.4950. Other currencies followed with EUR/USD reaching resistance at 1.1410 and settling a bit below this level.

More:

• EU Referendum Preview: Positioning, Scenarios and Key Results Releases
• Is your broker Brexit ready?
• Brexit or Bremain – all the updates

Here is  EUR/USD chart:

And here is the GBP/USD chart which shows the pound is at the highest level of the year, albeit sliding from the very highs.

The euro and the pound are not alone: also commodity currencies are jumping. Here is some detail on the leaps of AUD, NZD and CAD.