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You can find the current article at its original source at https://www.theguardian.com/business/2016/jun/23/british-pound-given-boost-by-projected-remain-win-in-eu-referendum
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| Pound given boost by projected remain win in EU referendum | Pound given boost by projected remain win in EU referendum |
| (35 minutes later) | |
| The pound has strengthened against the dollar and euro after investors seized on a YouGov poll that indicated a narrow victory for remain in the EU referendum. | The pound has strengthened against the dollar and euro after investors seized on a YouGov poll that indicated a narrow victory for remain in the EU referendum. |
| Sterling rose above $1.50 following the poll for Sky News, published as polling stations closed on Thursday night, which gave the remain camp a 52% to 48% lead over Vote Leave. | Sterling rose above $1.50 following the poll for Sky News, published as polling stations closed on Thursday night, which gave the remain camp a 52% to 48% lead over Vote Leave. |
| Pound climbs above $1.50 for the first time since December after #EUref polls close https://t.co/1hOVOd10kQ pic.twitter.com/UktBRbys4t | |
| Analysts said it was likely the pound would continue to gather momentum as the night wore on should results favour the remain camp. Investors are already gambling on the UK staying in the EU, amid expectations that the FTSE 100 will gain at least 90 points when it opens on Friday morning. | Analysts said it was likely the pound would continue to gather momentum as the night wore on should results favour the remain camp. Investors are already gambling on the UK staying in the EU, amid expectations that the FTSE 100 will gain at least 90 points when it opens on Friday morning. |
| Jeremy Cook, chief economist at currency broker World First, said: “It’s early days and there will be twists and turns through the early hours of this morning but, for now, the markets have taken that YouGov poll as a strong indication that the remain camp has won. | Jeremy Cook, chief economist at currency broker World First, said: “It’s early days and there will be twists and turns through the early hours of this morning but, for now, the markets have taken that YouGov poll as a strong indication that the remain camp has won. |
| However, Cook warned of severe consequences if the result confounded recent polling. “On the other hand, the collapse of a leave win, something the market has almost fully discounted, could be truly biblical.” | However, Cook warned of severe consequences if the result confounded recent polling. “On the other hand, the collapse of a leave win, something the market has almost fully discounted, could be truly biblical.” |
| Earlier in the day, the pound broke through $1.49 against the dollar for the first time since December, before easing back in the afternoon. After breaking $1.50 shortly after polling stations closed, it was back trading around $1.49 shortly before midnight. | Earlier in the day, the pound broke through $1.49 against the dollar for the first time since December, before easing back in the afternoon. After breaking $1.50 shortly after polling stations closed, it was back trading around $1.49 shortly before midnight. |
| The FTSE 100 index added a solid 1.2%, or 77 points, to close at 6338, the highest since late April. | The FTSE 100 index added a solid 1.2%, or 77 points, to close at 6338, the highest since late April. |
| The FTSE and pound have been buffeted by close opinion polls during the campaign but in the past week market sentiment has swung to show growing confidence in a vote to remain in the EU. The FTSE has rallied every day this week and by Thursday’s close was up 5.3% for the week so far. | The FTSE and pound have been buffeted by close opinion polls during the campaign but in the past week market sentiment has swung to show growing confidence in a vote to remain in the EU. The FTSE has rallied every day this week and by Thursday’s close was up 5.3% for the week so far. |
| The FTSE’s gains were mirrored on other European bourses, with the leading share indices in Germany and France both closing up almost 2%. On Wall Street, the Dow Jones industrial average closed 1.3% up. | The FTSE’s gains were mirrored on other European bourses, with the leading share indices in Germany and France both closing up almost 2%. On Wall Street, the Dow Jones industrial average closed 1.3% up. |