Intra-Day Market Moving News and Views
18 Apr 2016 09:33GMT
GBP/USD - ...... Cable rebounds from intra-day low of 1.4132 on short covering after Reuters news reported the "In" camp maintains lead.
Although sterling came under renewed selling pressure in New Zealand at 1.4240 on Monday as renewed warnings over the weekend on risk of a 'Brexit' triggered a wave of selling, price fell to 1.4163 in Asia, then to 1.4132 in early European trading. News of the "In" camp is still maintain a small lead prompted short covering, lifting the pound to as high as 1.4201, suggesting range trading is in store until New York open.
Bids are noted at 1.4165-55 and more below with stops below 1.4130, some offers are reported at 1.4200/05 with some stops above there, more selling interest is tipped at 1.4240/45 with stops touted above there.
Reuters reported the "In" campaign has retained its seven percentage point lead ahead of Britain's June 23 referendum on whether Britain should stay in the European Union although more voters were undecided, according to a ComRes poll for the Sun newspaper on Monday.
The telephone survey of 1,002 people carried out last week found support for staying in the bloc was on 45 percent with 38 percent of voters backing a Brexit.
That meant the "In" camp's lead was unchanged from a similar ComRes poll last month although the number of undecided voters had risen significantly to 17 percent. Last month, 11 percent said they did not know how they would vote.
"It is clear there is still considerable confusion about the referendum, which suggests a lack of clarity from both campaigns," Tom Mludzinski from ComRes told the Sun.
Phone surveys have generally indicated support for remaining in the EU firmly ahead of the "Out" campaign, while online polls have the two sides running neck and neck.
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