Assets rally on signals Britain to remain in EU

Emerging market assets gained value for the second straight day as reports from the United Kingdom signaled the campaign to stay in the European Union gained support.

The most recent poll for the remain camp led by a slight margin of three percentage points before the upcoming referendum vote for "Brexit" to be held on Thursday.

“Emerging-market assets will be fully focused on the probabilities of Brexit until we have the final results on Friday morning. Net commodity-exporting currencies have been trading fully in line with oil-price action, with oil now following the whims of global growth and thus any Brexit scenario. It all boils down to democracy in the end,” said Simon Quijano-Evans, chief emerging-market strategist at Commerzbank AG in London.

The MSCI Emerging Markets Index gained 0.7 per cent, with a two-day rise of 1.1 per cent on the poll results, after dropping 1.4 per cent over the past week on signs of Brexit support.


Read more at Bloomberg.