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| Pound falls after Survation poll shows Remain edging ahead | Pound falls after Survation poll shows Remain edging ahead |
| (35 minutes later) | |
| The pound fell half a cent against the dollar following the results of a Survation poll on the EU referendum, before rebounding. | The pound fell half a cent against the dollar following the results of a Survation poll on the EU referendum, before rebounding. |
| The poll showed that the Remain campaign had edged ahead at 45 per cent to Leave's 44 per cent with two days to go until the British public vote on whether or not the UK should stay in the EU. | The poll showed that the Remain campaign had edged ahead at 45 per cent to Leave's 44 per cent with two days to go until the British public vote on whether or not the UK should stay in the EU. |
| The pound had earlier climbed 0.5 per cent against the dollar to $1.4781 after the Bank of England revealed that UK financial institutions have made use of £370 million in emergency cash intended to keep the City afloat if Brexit hits. | The pound had earlier climbed 0.5 per cent against the dollar to $1.4781 after the Bank of England revealed that UK financial institutions have made use of £370 million in emergency cash intended to keep the City afloat if Brexit hits. |
| This was the smallest take-up of any Bank of England offer of liquidity for 18 months. | |
| The low take-up suggests banks are not as worried about chaos hitting financial markets on Friday, or that they already feel prepared. | |
| Sterling surged against the dollar on Monday after multiple opinion polls showed that support for the UK staying in the EU was growing. | Sterling surged against the dollar on Monday after multiple opinion polls showed that support for the UK staying in the EU was growing. |
| Sterling approached its biggest one-day rally since 2009, up 1.45 per cent at $1.4676 to the pound. | Sterling approached its biggest one-day rally since 2009, up 1.45 per cent at $1.4676 to the pound. |
| Mihir Kapadia, CEO and Sun Global Investments, said that investors were being cautious ahead of the results of the EU referendum. | Mihir Kapadia, CEO and Sun Global Investments, said that investors were being cautious ahead of the results of the EU referendum. |
| "The polls are close and no one can be certain of which way the vote will swing. Uncertainty breeds inaction, and so markets are likely to be cautious until they know more come Friday morning," Kapadia said. | "The polls are close and no one can be certain of which way the vote will swing. Uncertainty breeds inaction, and so markets are likely to be cautious until they know more come Friday morning," Kapadia said. |