LONDON: Sterling rose to a 3-1/2-month high against the euro on Wednesday as several bookmakers shortened the odds on Britain voting to stay in the European Union to 1/7, indicating around an 85 percent chance.
Another poll came out showing the "In" and "Out" camps neck-and-neck in the run up to the June 23 referendum on Wednesday, but investors are increasingly relying as much on bookmakers and punters as the pollsters, the established trackers of political trends.
Sterling strengthened to 76.01 pence per euro, its strongest since early February. And against the dollar, the pound hit $1.4665, its highest since May 3.
The 1/7 odds offered by Paddy Power and Coral, among other bookies, are the shortest since the referendum date was announced in February.
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