Sterling jumps back and Remain odds cut on latest EU referendum poll

Jake Cordell
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Sterling has been jumping up and down in response to EU referendum polls
Sterling has been jumping up and down in response to EU referendum polls (Source: Getty)

A strong poll for the Remain side has sent the pound surging today in the latest swings in the currency markets.

After yesterday's dramatic fall, the pound has climbed by more than one per cent against the US dollar to stand at $1.4592 this lunchtime.

The shift came after a new poll by ORB found the Remain side had extended its lead in the EU referendum campaign, with 52 per cent of respondents wanting to stay in the EU against 40 in favour of leaving.

Looking only at those who are certain to vote, however, Remain's lead shrinks to one point - on 48 per cent against 47 per cent.

Pound sterling (GBP) against the US Dollar (USD) (Source: Reuters)

The jump in the value of the pound more than offsets yesterday's fall and puts the dollar comfortably above the $1.45 benchmark level.

Sterling also climbed against the euro, rising by 0.9 per cent to €1.2828.

The ups-and-downs of the pound in the currency markets have become a routine occurrence over the past few weeks. The response of financial markets to the opinion polls, however, has intensified over the last few days, and measures of volatility have surged as the swings show no sign of abating ahead of the 23 June vote.

Read more: We asked 12 experts what will happen to the markets before polling day

Bookies also pushed out their odds on the chances of the UK voting to leave from around 2/1 yesterday to a best price of 5/2 today.

Today is the last day when people can register to vote ahead of the referendum and both campaigns are launching a sustained push to encourage as many people as possible to get on the electoral roll.

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