UK has started to count the vote.

Highlights of today’s FX Daily as follow:-

·         UK has started to count the vote. Exit polls show a small lead for ‘Remain’. This translated into continued relief-rally of FX market as GBP/USD was up almost 1 big figure prior to the reported results. ·         We are watching if next level of EUR/USD’s 2016 high of 1.1615 would be challenged. ·         JPY’s depreciation bias against USD is likely to continue with pick-up in risk sentiment with first sign of resistance of around 107.0 following by 108.1. ·         We are looking at new technical support of 3.96-4.00 for USD/MYR on the back of continued bond inflows and declining 5-year CDS rate, but we are mindful if Brexit turns into a “Sell the News” event.