Pound rallies to 2-week high as Brexit polls swing in favor of ‘remain’

The pound moved sharply higher on Monday after the latest Brexit polls indicated the “remain” campaign has regained some lost ground ahead of Thursday’s key referendum.

Sterling GBPUSD, +2.0684%  traded at $1.4604, up 1.7% from $1.4359 late on Friday in New York. On an intraday level, the pound touched $1.4624, the highest its been since June 7, according to FactSet data. The pound also jumped against the euro GBPEUR, +1.4610% fetching €1.2870.

The rally came after a Survation poll published in the Mail on Sunday showed 45% of respondents want the U.K. to remain part of the European Union compared with 42% in favor of leaving. The results mark a reversal from another Survation poll out on Thursday last week, which put the Brexit camp in the lead at 45%, with the “stay” side lagging behind at 42%.

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