The pound is getting slammed

Good morning!

The British pound is getting slammed.

The currency is down 0.9% at 1.4141 against the dollar amid ongoing Brexit worries.

On Monday, a poll conducted by ICM on behalf of the Guardian showed 53% for Leave and 47% for Remain.

Plus, the Sun, which has the largest circulation of any physical newspaper in British, has come out in favour of a Brexit. It should be noted the Sun has a great track record in general elections, and has always backed the winner.

Separately, consumer prices in Britain rose 0.3% year-over-year in May, which was unchanged from April, and just shy of the 0.4% gain that was expected.

As for the rest of the world, here’s the scoreboard as of

  • The euro is down 0.6% against the dollar at 1.1227 after eurozone industrial production surprised on the upside, rising 1.1%. Separately, Spanish CPI dipped 1.0% in May and Italian CPI rose 0.3% — both in-line with expectations.
  • The Indian rupee ended down 0.2% at 67.2575 per dollar after India’s WPI inflation picked up. The wholesale price index rose to 0.79% in May, up from 0.34% in April.
  • The dollar index is up by 0.4% at 94.75 ahead of retail sales data, which crosses the wires at 8:30 a.m. ET.
  • The Japanese yen is stronger by 0.3% at 105.91 per dollar.

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