Latest polls provide support to pound after stops taken out by fat finger

The Pound is the main attraction in the FX world today, as it creeps higher against most counterparts and especially against Euro. The Pound is currently trading at 1.457 against Dollar, up 0.8% so far today. It is up 0.9% against Euro and more than a percent against Yen.

During the Asian trading hours, Pound rose sharply as much 1.5% or around 200 pips from 1.448 to 1.467 in just a minute. That big move, took many of the stops, which couldn’t be attributed to any news and macro data and more likely to have occurred by big fat finger error. After that big move, Pound corrected to 1.449 over next three hours and has been rising since.

Two of latest poll numbers are also supporting Pound’s rise. A poll by YouGov and Times show “Stay” camp at 43% and out camp at 42%, while 15% remain undecided. In a separate poll by ORB and Telegraph show, “Stay” camp at 48%, “Exit” camp at 47% and 5% undecided.

Financial Times’ poll of polls, which is the average of all the polls since 2013 show just 2% lead for the stay camp, which means it will be a close call.