Fluctuation in Asean currencies expected on UK votes
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Asean currencies are likely to witness an initial selloff on Friday if British nationals vote to leave the European Union, said a research by UOB.
They are expected to weaken by 2-3 per cent against US dollar. The bank also anticipates intervention by central banks to cushion the sharp depreciation.
However, if Britain is voted to remain in the European Union, the currencies are likely to stage a relief rally of 1-2 per cent.
The results of the Brexit referendum are expected some time in 10-11am on June 24.
