Pound Strengthens, Yen Weakens as U.K. Seen Remaining in EU
- Voting ends in U.K. as stocks surge in Thursday trade
- Treasuries, gold, yen slide; bank shares led S&P 500 higher
Watt: Pound Violence Is Investors Caught on Wrong Side
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The pound strengthened to the highest level this year while the yen weakened as early polls reinforced speculation the U.K. voted to remain in the European Union.
Equities rallied with risk assets around the world Thursday in anticipation Britons would reject EU secession, a threat that has rocked financial markets for two weeks. A YouGov poll indicated support for remaining part of the 28-nation bloc stood at 52 percent. First results are expected around 7 p.m. New York time, and the final ones are due at about 2 a.m. on Friday. Stock and equities futures markets were closed with bond markets.