Recent opinion polls are looking better for the Bremain campaigners against the Brexiteers. What does that mean for the pound? Can it continue higher? Here is their view, courtesy of eFXnews: Sterling has been the best performer over the last month as it was the only currency to outperform the US dollar over that time. With betting odds now approaching 80% for a ‘remain’ vote, we have seen some evidence of GBP shorts being covered. We continue to argue that telephone opinion polls, which consistently point toward leads for the ‘remain’ camp of around 8-10% are likely to be more accurate than internet polls that invariably overstate support for an exit. Thus, unless we see a substantive narrowing in the polls, expect markets to become more confident of the result, unwinding GBP negativity in the process. However, the flip-side of opinion poll differentials remaining outside the margin for error could be the level of turnout. The greatest risk for the ‘remain’ campaign is likely voter apathy, strong supporters of ‘Brexit’ are likely to vote, while younger people, who predominantly favour to remain in the EU are less likely to vote. The recent BoE Quarterly Inflation Report detailed that around half of the slide in trade-weighted sterling could be attributable to ‘Brexit’-related uncertainty. The implication is that the removal of such fears should encourage sterling to recover by a commensurate amount. Moreover, it’s possible that the economy will register a post-referendum recovery. Beyond the June 23rd vote, delayed investment and spending decisions will be reversed, (on the basis of ‘remain’ winning) in the process encouraging the economy to regain lost momentum. However, MPC dove Vlieghe is not convinced that the rebound will lead to tighter monetary policy. Even hawkish member Forbes has suggested that not all of the current slowdown is ‘Brexit’ related. Together, that suggests being wary of extrapolating too much from the recent GBP gains ahead of the vote. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next USD/CAD Forecast May 30 – June 3 Kenny Fisher 6 years Recent opinion polls are looking better for the Bremain campaigners against the Brexiteers. What does that mean for the pound? Can it continue higher? Here is their view, courtesy of eFXnews: Sterling has been the best performer over the last month as it was the only currency to outperform the US dollar over that time. With betting odds now approaching 80% for a 'remain' vote, we have seen some evidence of GBP shorts being covered. We continue to argue that telephone opinion polls, which consistently point toward leads for the 'remain' camp of around 8-10% are likely to be more… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk.3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk.4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk.5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.