Home Forex Pro-EU British Lawmaker’s Death Leads to Sterling and Euro Rising

Pro-EU British Lawmaker’s Death Leads to Sterling and Euro Rising

624
0
SHARE

The sterling is up in early London trading today and the euro followed as chances of Brexit fall following the death of a Pro-EU British lawmaker on Thursday. The lawmaker’s death may spark a change in opinion for Brexit, reinforcing the risks of leaving the EU.

A series of polls showed the majority of voters in favor of UK leaving the EU prior to the death of Jo Cox.

Jo Cox, British lawmaker, was murdered on Thursday, both shot and stabbed. Witnesses of the murder heard the attacker tell the lawmaker to “put Britain first” during the attack, which left her bleeding on the ground in West Yorkshire, eventually succumbing to her wounds.

The sterling rose 0.6% to $1.4276 on Friday, up over 3 cents from lows on Thursday.  The sterling is up 0.2% against the euro to 78.85 pence per euro.

Investors speculate that Prime Minister David Cameron may not hold a vote on Brexit on June 23 following the murder of Mrs. Cox.

GBP/USD moved off of three-month lows as fears of a Brexit eased yesterday. The GBP/USD is up 0.61% to $1.4292. The greenback fell further against a basket of major currencies on Friday after a recent economic report of mixed housing data led to concerns of the United States economy slowing.

The USD/JPY hovered near 104.23 after the announcement that housing starts in the United States declined 0.3% in May.

The euro strengthened against the dollar, with the EUR/USD up 0.22% to 1.1251. USD/CHF fell 0.32% to 0.9620. The Bank of England’s decision to keep the current monetary policy in place further asserts the United Kingdom’s biggest concern being the potential exit from the European Union.

Campaigning for the referendum were halted on Thursday.

The AUD/USD was up to 0.7386, a 0.33% gain, while the NZD/USD rose 0.10% to 0.7052 on Friday.

LEAVE A REPLY