Aussie, kiwi hit multi-month highs ahead of Brexit vote

by Jonathan Adams

The Australian and New Zealand dollars rose to multi-month highs against their U.S. counterpart on Thursday, as market sentiment was boosted by hopes British voters will chose to remain in the European Union at today’s historic referendum.

AUD/USD gained 0.47% to a nine-month high of 0.7531.

Sentiment strengthened after polls by ComRes, conducted for the Daily Mail newspaper and ITV (LON:ITV) television, and by YouGov for The Times newspaper in London, showed a last-minute rise in the number of ‘remain’ voters.

The vote on a potential Brexit was set to take place between 0600-2100 GMT on Thursday, with results expected on Friday morning.

NZD/USD advanced 0.46% to trade at a 12-month high of 0.7196.

A rise in oil prices also helped the commodity-currencies on Thursday. Crude rebounded from losses posted the previous session, after the U.S. Energy Information Administration reported a smaller than expected fall in U.S. stocks last week.

The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.14% at 94.03.

This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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