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The pound is diving after an unexpected Brexit poll result

Screen Shot 2016 05 31 at 10.48.34 AM
Screen Shot 2016 05 31 at 10.48.34 AM

(Investing.com)

Good morning!

The British pound is crashing after an unexpected Brexit poll result.

The Guardian reported that a new ICM/Guardian telephone poll showed that 42% of respondents would vote Remain, 45% would vote Leave, and 13% said "don't know."

When including the results for those surveyed online and by phone, the numbers came in at 48% for Remain and 52% for Leave.

The currency was down by as much as 0.6% to 1.4551 against the dollar as of 10:52 a.m. ET.

As for the rest of the world, here's the scoreboard:

  • The euro is little changed at 1.1136 against the dollar. Consumer prices in the eurozone fell 0.1% year-over-year in May, which was a slight uptick from April's 0.2% yoy decline. Taking out the volatile food and energy prices, the core reading climbed 0.8% YoY, in-line with estimates.

  • The Australian dollar is stronger, up 0.8% to .7244 per dollar. On Monday, the Aussie dollar briefly traded near .7150 in early Asian trade before closing little changed near .7180. "Provided it holds above $0.7220 now, it can work its way a bit higher," wrote Marc Chandler, the global head of currency strategy at Brown Brothers Harriman, in a morning note to clients. "As a mile marker, note that the 20-day moving average is found near $0.7285," he added. "The Aussie has not been above this average since a downside reversal was posted on May 3.

  • The US dollar is stronger by 0.3% at 95.78. "The main narrative of increased prospects for a Fed hike in June or July has been pushed off center stage as the market reacts to local developments and investors await US economic data," wrote Chandler in a note to clients.

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