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Euro, pound slip two days before Brexit vote

Wednesday, June 22, 2016 - 06:50
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The euro and British pound edged lower on Tuesday, just two days before the market-rattling Brexit referendum, with the "remain" and "leave" camps running almost even in the polls.

[WASHINGTON] The euro and British pound edged lower on Tuesday, just two days before the market-rattling Brexit referendum, with the "remain" and "leave" camps running almost even in the polls.

The euro lost 0.5 per cent on the dollar, to US$1.1259, and the pound fell 0.3 per cent to US$1.4675.

The pound, though, remained well above the US$1.41 level it hit a week ago when fears were highest that the "leave" vote would win.

US Federal Reserve Chair Janet Yellen warned of "significant economic repercussions" if Britain breaks with the 28-member European Union.

Meanwhile, European Central Bank chief Mario Draghi said it was preparing for "all possible contigencies." "It's difficult to speculate about one outcome instead of another," Mr Draghi said in a Brussels hearing.

"We've done all preparation that is necessary now."

AFP

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