In the event of the UK leaving the EU we can expect negative impact on the Eurozone and its currency 24 June 2016
Something else we've raised in our posts and discussion at ForexLive has been the potential negative impact on the Eurozone and hence the euro itself.
EURGBP has risen now to break 0.8000 res/supply as I type as GBPUSD triggers stops through 1.4000 to post 1.3802 eeee 1.3645 in a rush but EURCHF has continued to slide to 1.0754 from 1.1024 highs earlier.
The SNB and other central banks have made it clear they will be at their desks all night and we should assume they will be poised to put a bid under USDCHF if indeed they haven't done so already. USDCHF has climbed to 0.9733 but still being outgunned by general safe-haven demand for CHF. While 1.0750 isn't in itself a real concern the potential to fall further is and the SNB will want to stop it running too far
With USDJPY also breaking down through 100 to 98.97 and now back to 101.01 we can't rule out the BOJ sniffing around either.
Cross pair flows will be playing out on core pairs as ever.
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