Halister News

(Bloomberg) -- Yen jumps past 100 vs dollar, with the Aussie and South Korean won leading Asian currencies lower as results so far from the U.K. vote show more support for Brexit.

• Latest tally shows Leave camp with 51.34% votes vs 48.66% for Remain
• Dynamic swings on pound are weighing on regional currencies, and people are unwinding positions from the Remain camp, according to Stephen Innes, senior trader at Oanda
  • Market fluid although see 100-point moves given that liquidity is very thin
  • A lot of “fast money” trading as people chase rapidly shifting sentiment, with longer-term bets and “smart money” sidelined
• Yen climbed as much as 6.7% vs dollar to 99.02, the highest since Nov. 2013; Aussie falls 2.7%
• Singapore dollar drops 1.6%, while Malaysian ringgit slips 1.4%, Korean won plummets 1.9%
• South Korea to take market stabilization measures if needed on Brexit, Vice Finance Minister Choi says; economy’s exposure to U.K. not large, but can be affected by mkt volatility
  • Bank Negara Malaysia said yesterday central bank and financial market participants will remain vigilant to any potential emerging risks and challenges