Thursday, June 2, 2016

Forex - GBP/USD, EUR/GBP Flows: Prime Minister David Cameron on Thursday (Jun 2) urged Britons not to "roll a dice" by leaving the EU

Prime Minister David Cameron on Thursday (Jun 2) urged Britons not to "roll a dice" by leaving the EU in his first television grilling of the referendum campaign, three weeks before the tight vote. Facing an often hostile audience at Sky News, Cameron argued that, while the European Union sometimes "drives me crazy", it would be an act of "economic self-harm" for Britain to vote out on Jun 23. With opinion polls finely balanced and some suggesting a recent increase in support for the "Leave" campaign, Cameron, who is leading the case for "Remain", entered the studio under pressure.

Brexit concerns are on the backburner today, with focus firmly on the NFP numbers later in the day. As long as the number is not too poor (sub 120-30k), we expect the rate hike in June to go ahead, and GBPUSD should see a corresponding fall, below next support at 1.4341. The order book ( on the downside) for GBPUSD is much thinner than that of EURUSD, where large sized bids are still sighted at 1.1100, and EURGBP should see a corresponding rise in the event of sharp moves lower in both pairs. Still, expect 0.7800 resistance to cap for the time being. C.L


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Forex - GBP/USD, EUR/GBP Flows: Prime Minister David Cameron on Thursday (Jun 2) urged Britons not to "roll a dice" by leaving the EU Rating: 4.5 Posted by: Unknown

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