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Global stocks surge as Brexit fears wain

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Global stocks surge as Brexit fears wain

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The pound has bounced back against the dollar after recent polls from the UK suggest that the campaign to remain in the EU is on a roll.

The Dow Jones rose as did S&P futures and the NASDAQ.

In Germany the DAX gained more than three percent as a surge of optimism hit the markets.

Jeremy Stretch from FX strategy:“The markets are just having a little bit of a relief rally to start the week on the assumption that perhaps, rather like in the Scottish referendum in September ’14, that whilst a vote for change did have solid opinion poll support prior to the event, as we came closer to the poll itself, then some of that vote for change started to dissipate”

Asian markets also reacted positively to polls with Japanese stocks rebounding and the safe haven yen falling.

Last week investors swooped on the yen
as polls suggesting a vote to leave the EU led to market jitters.

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