The United Kingdom European Union membership referendum, or, the EU Referendum, which will ask voters to choose whether or not the United Kingdom should remain in the European Union, is scheduled to take place on June 23, 2016.
As you may have already observed, the Brexit debate of the recent months has caused significant market volatility, with sharp currency movements and the GBP at times falling, at others rallying against other currencies. As June 23 nears and uncertainty escalates, the volatility affecting GBP pairs in particular, and the currency market in general, heightens.
As well as expecting increased volatility during June, you are encouraged to keep an eye on daily developments and monitor your trades closely. Other steps you can take to make the most of currency movements are:
• Making sure you have enough margin and free equity in your account as spreads may widen considerably and there could be a rise in margin requirements;
• Anticipating not only the referendum result but also the market’s reaction to it;
• Reading daily market analysis and the latest on market movements.
The FxPro daily market outlooks by our Chief Economist, Simon Smith, can be found here.