CHART: Here's how crazy the trade is in the Australian dollar

(Photo by Mirco Lazzari gp/Getty Images)

As expected, global markets are choppy this morning. The Australian dollar ripped higher, mirroring a rally in Sterling as polls closed in Britain’s referendum on its future in the European Union.

Sterling reportedly had one of its busiest 30 minutes of trading of the year between 9pm and 9.30pm BST. It surged above $1.50, and the Aussie dollar surged above US76c.

But it’s unwinding now and the Aussie has been smoked. Look at the moves:


This isn’t over.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at