Investing.com - Updated poll figures on the U.K. referendum on membership of the European Union have led analysts and betting oddsmakers to expect a nearly split vote between "Remain" and "Leave."
Analysts at JP Morgan, based on results, said they were pointing to 51.5% to 48.5% for Leave, while bookies leaned that way as well. Sterling plunged on the early results, falling from close to $1.50 as the last polls were published to below $1.40.
The initial shock came from a crushing victory for 'Leave' in Sunderland in the north-east of England. There have since been a string of results that have been markedly stronger for 'Leave' than pundits had expected.
The one remaining hope for the Remain camp was that London would come out very strongly for staying in, with the first sizeable constituency, Lambeth, coming out 79% for 'Remain'.
All eyes will be on the Bank of England and Treasury as markets open, but both have long been deeply skeptical about foreign exchange intervention. The last time they intervened to bolster sterling was on Black Wednesday back in 1992.