Wednesday, 22 June 2016

Place your bets……….!

Tomorrow is the long-awaited referendum on Britain’s participation in the European Union, with recent opinion polls veering between predicting a “Brexit” and “Bremain”. At the moment the polls suggest the vote could go either way.

Whilst opinion has been going one way or the other the markets have moved in tandem with the polls; Sterling and major stock markets have fallen with Brexit strength and risen with Bremain sentiment, whilst gold has been contrary, rising on the uncertainty of an exit vote.

At the moment Sterling is at 1.4684 to the US Dollar, the FTSE250 at 16,980.31 and gold at $1280.80 to the ounce – check back on Friday to see how the result has affected the prices.

However, there has been one certainty underlying all the above. All the bookmakers’ have consistently made Bremain odds-on, with current prices 1/4 in favour of Remain. Pollsters have had a torrid time of late, with their predictions of both the Scottish Referendum and the last General Election wildly inaccurate and so smart money would bet on Bremain……….takers anybody?!

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