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How will the euro be affected as sentiment around the voting flows through?

By Callum Holmes June 23rd, 2016

The euro had a surprisingly quiet day on Wednesday, with the markets pretty flat against sterling as the referendum vote loomed. The single currency did see some volatility against the US dollar, gaining almost 1% throughout the morning but half of the gains were lost in the afternoon as the referendum draws nearer.

Today the main focus of course will be how the UK votes in the EU referendum but as there are no exit polls, investors will be in the dark until very early on Friday morning. There is a fair amount of data from Europe due to be released today: French business sentiment is forecast to fall from 104 down to 103, while Purchasing Managers’ Index (PMI) figures are out and anticipated to fall slightly by 0.1%; however, these will almost certainly be overlooked tomorrow thanks to any indication on how voters are voting on the EU referendum.

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