Sterling Volatile on Brexit Polls
Posted: Wed May 18, 2016 7:46 am
This article was written by Jarratt Davis. Jarratt is a professional trader and educator and owner of www.jarrattdavis.com.
Cable fell over 400 pips during the first half of May, before rallying 300 pips between the 16th -18th as swings in Brexit polls continued to drive sentiment in sterling.
Upside was capped on the 17th with a miss on CPI readings for April; core CPI was flat for the month and down to 1.2% y/y, from a prior of 1.5% and below expectations of 1.4%. Headline CPI rose a mere 0.3% in the 12 months ending April 30.
Despite this ... (read more)