The latest opinion polls indicate the UK result could be a cliffhanger‚ with the "remain" and "leave" camps evenly balanced‚ and undecided voters a crucial factor.
"For today then I expect things to remain subdued as most people/investors will likely play it safe leading up to the close of voting‚" Standard Bank trader Warrick Butler said in a note.
"Expect some volatility around the various polls that will be released sporadically today. If you can‚ stay out of trading for the day."
For the most part this week‚ market sentiment has been positive with investors betting on Britain choosing to stay in the 28-country bloc.
The upbeat market mood helped the rand gain more than 3% to the dollar and it is hovering around its best level since May.
At 8.56am‚ the rand was at R14.6011 to the dollar from R14.6192 at the previous close. It was at R16.5477 against the euro from R16.5172 previously‚ and at R21.5183 against the pound from R21.5185 previously.
The euro was at $1.1336‚ from $1.1298 previously.
Bond Market Flat
The South African bond market was flat on Thursday morning but kept a positive bias on the week. Traders and analysts do not expect much price action until Friday morning when the outcome of the British vote will be announced.
The yield on the benchmark R186 bond was 8.86% in early trade‚ unchanged from the previous close.
The bond market has measured well so far this week‚ lifted mainly by the stronger rand and benign inflation figures.
The consumer price index eased to an annual pace of 6.1% in May from 6.2% in April‚ according to Statistics SA data released on Wednesday.
- TMG Digital/BDlive
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