Oil and Gas Workers Paid in Foreign Currency See Huge Gains as Markets React to Brexit

Thus far 2016 has been a year of mainly downward movement. Oil prices have remained suppressed along with job numbers in the oil and gas sector and interest rates also remain low albeit with no real signs of immediate resurgence. Sterling has also seen its value depreciate although this has meant for those working overseas who bring their salaries back to the pound each month- up to a 10% bonus on their salaries- but for how long will this last?

As the EU referendum vote for the UK to either leave or remain gets ever closer, so does the impact of the opinion polls that continue to hit the market. The weekend saw a recent poll from ORB for the Independent (of 2,000 people) released which highlighted the “leave” vote leading at 55% and the “stay” vote taking the remaining 45%. This resulted in GBP being heavily sold again this morning meaning the following moves from close of business on Friday 10th June to the open this morning (Monday 13th June):

http://www.oilandgaspeople.com/news/8815/oil-and-gas-workers-paid-in-foreign-currency-see-huge-gains-as-markets-react-to-brexit/