Sterling has jumped to within a whisker of $1.50 after polls closed on referendum day, with traders believing that the UK has opted to remain part of the European Union.
The pound printed levels above $1.4987 against the US dollar. It has not been above $1.50 since then end of 2015.
A YouGov poll published after ballot boxes closed at 10pm showed that 52 per cent of votes were in support of the UK remaining in the EU, while 48 per cent voted to leave the union.
However, the outcome will not be known until Thursday morning, with votes published throughout the night. Market reactions could be volatile if any results cast doubt on Remain's success.
On Wednesday night, the pound soared from below $1.47 to above $1.48, after polls from YouGov and ComRes suggested that Brits would vote to remain in the European Union.
A week earlier, sterling was hovering around $1.41, as traders feared a victory for the Leave campaign. But in the following days the currency climbed considerable, with polls pointing towards a win for Remain.