ForexLive Asia FX news wrap: GBP surges as Brexit brakes tapped

Forex news for Asia trading Monday 20 June 2016

Monday:

"Here Is Our Strategy To Trade The UK Referendum Outcome"
Ex-MoF Sakakibara says yen is gradually appreciating to 100
PBOC sets USD/CNY mid-point today at 6.5708 (vs. Friday at 6.5795)
USD/JPY & EUR/JPY orders
EUR/USD orderboard
AUD and NZD orderboards
Japan - Trade balance for May: Y -40.7bn (expected Y 70bn, prior Y823.2bn)
Federal Reserve heads up - Janet Yellen to appear before Congress twice this week
NZ data: Q2 Consumer confidence 106 (109.6 prior), Services PMI 56.9 (57.8)
UK Rightmove House Prices for June: +0.8% m/m (prior +0.4%) & +5.5% y/y (7.8%)
Just waking up? Why is everything up? A run down of weekend Brexit polls
Japan press report GPIF to boost investment into 'risk' assets
Help me out here - where do the rival Brexit camps stand re pudding?
Trade ideas thread to open the week. Monday 20 June 2016
Some non-Brexit voting news! (Italy) Milan mayoral race exit polls
Brexit vote - looks evenly spilt, momentum with 'Remain"
Monday morning 20 June 2016 Forex prices, early indications

Weekend:

Cameron says he won't quit of 'leave' side wins
A message for prior ForexLive ACT course attendees: Join our new ForexLive trading room
It's time for ACTion again
Petition to have Brexit referendum cancelled gathers momentum
ECB's Visco says all central banks are ready to intervene if UK votes for Brexit
Luxembourg's Asselborn says Brexit could have "a domino effect in Eastern Europe"
EU's banking watchdog to leave London if UK votes for Brexit
Chinese house prices continue to rise in May
Brexit polls ... You want MOAR?
The moment I realized the US housing market would come crashing down
Week Ahead: Brexit, Bremain, Brace Yourself
France's Macron says Brexit would make the UK "a little country on the world scale"
RBI's Rajan says he will not serve a second term
Latest Brexit phone poll has Remain ahead but it's not quite that simple
The EU Referendum Week: What are the key levels in play for the major currency pairs

Diminishing Brexit fears saw GBP higher in the US on Friday, and that carried on today in Asia.

Polls released over the weekend saw gains for the 'Remain' side:

Latest Brexit phone poll has Remain ahead but it's not quite that simple
Week Ahead: Brexit, Bremain, Brace Yourself
Brexit polls ... You want MOAR?
EU's banking watchdog to leave London if UK votes for Brexit
Luxembourg's Asselborn says Brexit could have "a domino effect in Eastern Europe"
ECB's Visco says all central banks are ready to intervene if UK votes for Brexit
Petition to have Brexit referendum cancelled gathers momentum

(In brief), Here's the weekend polls:

Opinium: 44% Leave, 44% Remain
YouGov: 43% Leave, 44% Remain, 9% Undecided
Survation: 42% Leave, 45% Remain, 13% Undecided

Cable surged right from the first trades of the week, from around 1.4350 finishing levels in NY on Friday it moved to around 1.4460 before settling somewhat. As Tokyo got active it skyrocketed again, taking out 1.4600 before much of a reaction. Down to under 1.4550 and then a grind back to highs. Liquidity is becoming more of an issue in GBP crosses, and indeed word is that some big banks have stopped quoting short-term GBP options until after the referendum.

'Risk' gained across the board, regional equities included. EUR/USD made decent strides higher on the session, its up around a big figure. AUD and NZD also benefitted, AUD testing the 0.7440/50 area that confounded it last week, while NZD gained to above 0.7100.

USD/JPY is higher from Friday's US afternoon, while USD/CHF is little changed after early gains today. And interesting session for the CHF, EUR/CHF is trading toward the upper end of its session range as I update.

Oil traded up, while gold down.

It was Rexit time in India (RBI's Rajan says he will not serve a second term), the rupee weakening the most in 8 months

Regional equities: