FOREX-Sterling is up to 8-week low on Brexit anxiety, yen gains broadly

* Cable television meetings 8-week short on increasing fears on Brexit * Yen surges to 3-year high vs euro, pound * Swiss franc at 3-month high vs euro By Hideyuki Sano TOKYO, June 13 The British pound fell to an
eight-week low against the dollar on Monday amidst uneasiness
ahead of a referendum that might press Britain out of the
European Union, while the yen acquired broadly as the mood turned
sombre after Sunday’s mass shooting in the United States. The British pound, which lost 1.4 percent on
Friday, its 2nd greatest fall up until now this year, shed another
0.2 percent in early Asian trade to $1.4208. It was up to as low
as $1.4159, its weakest considering that April 18.

” The mandate is getting nearer and viewpoint polls are
showing a really tight race,” said Shin Kadota, chief FX
strategist at Barclays. Implied volatilities on sterling rose as market gamers
felt the need for defense versus the currency’s fall.
Three-month pound volatility soared to 17.2 percent,
its highest level given that early 2009. Viewpoint surveys released during the weekend revealed voters
were still divided over whether to end Britain’s European Union
membership.

The pound likewise hit a one-month low versus the euro, which
rose to as high as 79.355 pence. It last stood at
79.135. The safe-haven yen meanwhile surged to its greatest level in
3 years against both sterling and the euro as financiers
sought shelter in the Japanese currency with sentiment taking a.
further battering following a mass shooting in the United States.
on Sunday. The sterling struck a near three-year low of 150.68 yen.
, while the euro also slipped to a three-year nadir.
of 119.52 yen.

The dollar lost 0.4 percent to 106.60 yen, edging.
near one-month low of 106.26 touched last Thursday. While numerous market players think the Bank of Japan will keep.
its policy on hold at its meeting on June 15-16, that understanding.
could change if the dollar falls listed below its 18-month low of.
105.55 set on May 3. The euro slipped to $1.12475, its lowest since June.
3, quiting more than a half its gains made after disappointing.
U.S. work data on that day. The safe-haven Swiss franc held company, hitting its greatest.
level against the euro in three months. It stood at 1.0840 franc per euro, having actually lost.
2.2 percent last week, its greatest weekly fall considering that January.
2015, when the Swiss National Bank suddenly ditched its floor.
for the currency set.

( Editing by Shri Navaratnam).

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