Majors retreating in the build up to Brexit/Bremain referendum - FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that high yielders soared overnight, as the "Bremain" intention vote took the lead according to the latest polls, released over the weekend.

Key Quotes:

"Thin liquidity and a lackluster macroeconomic calendar, however, saw majors retreating as the day went by, although the dollar is broadly lower across the board. Europe released some local data, with the German PPI improving modestly in May, up by 0.4% compared the previous month, and down by 2.7% on a year-on-year comparison, from previous -3.1%."

"The common currency rallied up to 1.1382 against the greenback at the beginning of the day, but overall remained subdued, retreating towards the 1.1300 level by the end of the day, still above Friday's close of 1.1278. Markets are all about the upcoming Brexit referendum, and will remain so until the poll that will take place next Thursday."