Rush to Buy Holiday Currency as Pound Hits Year High

As voting gets underway in the EU Referendum, investors and holidaymakers are making the most of strong sterling rally

Emma Simon 23 June, 2016 | 2:14PM

Currency brokers report that euro and dollars sales have increased by almost 50% in the last three days, as investors and holidaymakers look to capitalise on the strong pound.

Sterling started to rally against both currencies at the start of the week, as weekend polls suggested the “Remain” campaign was leading the rival “Leave” camp in the EU Referendum. 

UK voters decide today, and last minute polling suggests the outcome is still too close to call. But this has not dented the strength of the pound, suggesting markets are pricing in a narrow “remain” win.

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About Author

Emma Simon

Emma Simon  is a financial journalist, specialising in investment and consumer issues, writing for Morningstar.co.uk

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