Article / 03 June 2016 at 2:00 GMT

Brexit: Calm settles over forex, equities markets

APAC Sales Trading Desk / Saxo Capital Markets
  • GBP appears to be trading down whether or not Brexit happens
  • The 10-year Gilt yield continues to fall, down three basis points
  • The FTSE settles, moving in line with other European bourses

By Saxo APAC Sales Trading

It was a very quiet day in GBP which trading closer to the support at $1.4343, the 100 Day Moving Average. Expect some strong support at this level.

  • Volatility: Vols are settling down at the highs after the strong rally seen in the past two days and we are actually seeing more and more ideas for downside trades in GBP - no matter how the Brexit vote ends up. Please be aware that the volatilities market is wide.
  • UK Rates: The 10-year Gilt yield continues to drop, down 3 basis points yesterday to close at 1.342% - the lowest level since April 7.
  • Equities: The FTSE moved in line with its European counterparts following the European Central Bank meeting and the "no-deal" from Opec, closing 0.1% lower.
xxx UK Chancellor George Osborne says service jobs will be lost if Brexit occurs. Photo: Flickr


The UK Chancellor of the Exchequer, George Osborne, is expected to say hundreds of thousands of jobs may be lost in the service sector, the main driver of Britain’s economy, if the country leaves the European Union.

-- Edited by Adam Courtenay

Saxo research on Brexit -  Please go to our website for trade strategies, comments and research
Relevant articles for you


The Saxo Bank Group entities each provide execution-only service and access to permitting a person to view and/or use content available on or via the website is not intended to and does not change or expand on this. Such access and use are at all times subject to (i) The Terms of Use; (ii) Full Disclaimer; (iii) The Risk Warning; (iv) the Rules of Engagement and (v) Notices applying to and/or its content in addition (where relevant) to the terms governing the use of hyperlinks on the website of a member of the Saxo Bank Group by which access to is gained. Such content is therefore provided as no more than information. In particular no advice is intended to be provided or to be relied on as provided nor endorsed by any Saxo Bank Group entity; nor is it to be construed as solicitation or an incentive provided to subscribe for or sell or purchase any financial instrument. All trading or investments you make must be pursuant to your own unprompted and informed self-directed decision. As such no Saxo Bank Group entity will have or be liable for any losses that you may sustain as a result of any investment decision made in reliance on information which is available on or as a result of the use of the Orders given and trades effected are deemed intended to be given or effected for the account of the customer with the Saxo Bank Group entity operating in the jurisdiction in which the customer resides and/or with whom the customer opened and maintains his/her trading account. When trading through your contracting Saxo Bank Group entity will be the counterparty to any trading entered into by you. does not contain (and should not be construed as containing) financial, investment, tax or trading advice or advice of any sort offered, recommended or endorsed by Saxo Bank Group and should not be construed as a record of ourtrading prices, or as an offer, incentive or solicitation for the subscription, sale or purchase in any financial instrument. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, would be considered as a marketing communication under relevant laws. Please read our disclaimers:
- Notification on Non-Independent Invetment Research
- Full disclaimer
- 沪ICP备13028953号-1

Check your inbox for a mail from us to fully activate your profile. No mail? Have us re-send your verification mail