Brexit campaign gains momentum, Pound under pressure

Ahead of the EU Referendum vote on June 23th, the Brexit campaign is getting some momentum back again, according to the latest Observer/Opinium poll released Saturday, which revealed the 'leave' side with a three point lead at 43% vs 40% for 'remain'.

According to UK Polling Report website: "Opinium have introduced a methodology change (incorporating some attitudinal weights) but have included what the figures would have been on their old methodology to allow people to see the change in the last fortnight. So their proper headline figures show a two point lead for Remain." 

"However the methodology change improved Remain’s relative position by five points, so the poll actually reflects a significant move to leave since their poll a fortnight ago showing a four point lead for Remain. If the method had remained unchanged we’d be talking about a move from a four point remain lead to a three point leave lead; on top of the ICM and ORB polls last week that’s starting to look as if something may be afoot", the website adds. 

To make matters worse, a poll shows 29 pct of daily telegraph subscribers will vote to remain in EU, while 69 pct would vote to leave , Reuters reports. Sterling continues to trade based purely on sentiment around the latest Brexit opinion polls, which suggests that following the weekend headlines, and on top of the most recent ICM and ORB polls, the currency is likely to stay under pressure, in line with collapsing UK yields on Friday.

GBP/USD: bears in control with opening bearish Brexit fuelled gap below 1.4500