Euro is weak amid the Brexit fear and is expected to be more volatile ahead of the EU referendum. It is also among the top most discussed currencies in relation to the Brexit event, based on the Brexit Briefing widget from Sentifi.
Sentifi – Brexit Widget
Christopher Vecchio, a currency strategist, believes that the potential of a Brexit vote is likely the main driver for the weakness of euro in the short run. As the euro has shown weakness recently, the analyst sees that the U.K. will have to vote leave for the euro to remain lower if it is assumed that the current weakness is due to the Brexit fear.
On backing Brexit, Jim Mellon, Master Investor, economist and entrepreneur, puts forward his argument that the U.K. will be devastatingly impacted by the collapse of the euro within 3 to 5 years and the continental-wide depression if it still remains in the bloc. The European Union ship is sinking.
Discussions keep arising among traders on social media as well, which is getting more interesting to watch.
@agurevich23 @MarkHar13514700 guys, any thoughts on Brexit implications? I think if they exit, euro goes up and that is my trade…
— mosaic (@mysticmarkets) June 11, 2016
The latest YouGov poll result came out with Leave votes making up 43% while Remain polling at 42%. This, according to the Business Insider, shows “how insanely close the referendum will be.”
The EU referendum deadline is approaching. The outcome still remains uncertain. But we can update the impact of the Brexit on economies, stocks, currencies and central banks around the globe. Brexit Briefing is always available on Sentifi Insights for you to check out every day or can be embedded on any webpage, FREE of charge. Follow the instructions here and let us know your feedback.
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