GBP/USD extends rebound to 1.45 handle, Remain favourite again

The cable swung back higher over the last hour, extending its recovery towards 1.45 handle as the latest bookies’ report showed that Remain takes the lead again, with total count standing at Remain 51.3%, Leave 48.7% so far.

However, volatility remains extremely high and further wild swings cannot be ruled out as the vote count continues, with London now in focus.

Earlier on the day, the rate had fallen sharply below 1.39 handle, eroding almost 1000 pips in minutes as the odds from Betfair showed implied probability of leave at 51%.