Sterling High, But Brexit Uncertainty Clouds Markets
Is it the silver lining? After a day of surging markets driven by polls showing Britain may remain with the EU, buyers have been snapping up the British currency. The pound rose 2 percent against the dollar to $1.47, its biggest jump in years, and one analyst predicts it'll hit $1.55 if the Remain camp wins Thursday's vote. But polls released yesterday indicate a razor-thin margin. Some investors are betting that a pound drop would precipitate a crisis, limiting the Bank of England's ability to weather Brexit's economic storm.