UK referendum takes centre stage as sterling slides

The euro rose up higher on Wednesday which is the last of campaigning prior to the historic Britain's referendum on EU membership. The pound on the other hand fell down following emergence of polls result in the market which showed that the leave camp was taking the lead. The dollar went up as positive data came out on US new home sales data with investors warming up for the results for the referendum which will be holding tomorrow.

Data from the US National Association of Realtors revealed that that existing home sales had increased by a margin of 1.8% for last month which is an increment of 5.53 million units from the 5.43 million units it had recorded in the month of April. This was just slightly below estimates which was an increase of about 5.54 million units.

There is the possibility that the Fed would could still raise interest rates this month should the referendum result in Britain voting to remain in the European Union with U.S. jobs data shows an impressive leap this month from a devastatingly poor reading for the month of May.
Yellen referred to the risks of Brexit, highlighting it could have "significant economic repercussions."

The dollar dropped by around 0.33% falling down to 104.4370 yen.