The dollar erased earlier gains against the dollar while the euro turned negative on Friday after Newcastle, seen as a safe "remain" district, reported only a marginal win for Britain to stay in the European Union.
The dollar fell to as low as 105.55 yen, down more than 0.5 per cent from late US levels and down more than a full point from the day's high of 106.875.
New YouGov poll: Remain 52%, Leave 48%
On the day of the EU referendum, oil prices were driven higher by optimism at the polls.
It seems market sentiment has improved as investors see support for the UK to remain gaining strong traction, as the appetite for supposedly risky assets, such as oil futures, has returned.
On the New York Mercantile Exchange, light, sweet crude futures for delivery in August were up just over 1% to US$49.76 a barrel.
August Brent crude on London’s ICE Futures exchange climbed 1.5% to US$50.63 a barrel.
Prices edged higher after an Ipsos Mori poll showed the Remain camp was edging higher.
It found 52% in favour of the U.K. remaining in the EU, while 48% prefer a Brexit just ahead of voting today.
ANZ said in a research note that “a positive tone in the commodity markets continues to support prices. However, the gains remain limited as investors await the outcome of the EU vote in the UK."
Reference: Proactive Investors, Straitstimes
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