FX market braces for Brexit night

As Britons head to the voting booths to decide the future of the UK, all eyes are on sterling pairs

Brexit
Brexit: the wait is over

Currency traders are bracing for a potential liquidity vacuum in the early hours of Friday, as the results of Britain's vote on its European Union membership will start filtering through amid illiquid Asian hours, spurring banks to staff their foreign exchange desks overnight.

The effect of a so-called Brexit could trigger an event similar to the Swiss National Bank's removal of its currency floor, which caused a serious dislocation in currency markets when liquidity providers pulled their

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