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Downside risk for GBP as Brexit odds increase: Hardy
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Latest polls suggest that the United Kingdom could vote to leave the European Union in the June 'Brexit' referendum. Saxo's John Hardy says this is already being felt in sterling - in both EURGBP and GBPUSD. He warns that there is further risk to the downside for GBP if the odds increase for a brexit. But he also notes that in the longer term it could get contrarian if EURGBP moves too much higher.