Pre-referendum G10 liquidity at its worst since SNB

Citi warns of highly illiquid market conditions as Britain goes to the polls

desert-safari
Hard going: Citi notes "whippy price actions"

Liquidity in G10 currencies has deteriorated to the worst levels seen since January 15, 2015, when the Swiss National Bank (SNB) removed its minimum exchange rate in the franc and caused a jump of almost 40% in EUR/CHF, according to a note from Citi.

The volatility comes ahead of Britain's vote on its European Union membership, spurring extremely high levels of uncertainty, which is causing liquidity providers to exercise caution when pricing.

"We have seen very whippy price actions during

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: