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Market nervous until June 23: Hardy
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Saxo Bank head of forex strategy John Hardy is expecting a nervous wait in the market until the June 23 UK referendum. Hardy says that the polls suggest a leave vote, but he thinks that the outcome is still uncertain.
According to Hardy, cable and euro are trading lower and even though he thinks that the reaction to the referendum is likely to be large and one-off, he believes cable will be weaker in the long term regardless of the outcome of the June 23 vote.
Hardy is also keeping an eye on the FOMC meeting on Wednesday, June 15 where he expects a muted message.
Beyond the FOMC, Hardy awaits the Swiss National Bank meeting on June 16.