Sleepless in the City Lets Traders Bet Billions on Brexit Result

June 22, 2016 11:26 PM

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The senior foreign-exchange trader at Allied Irish Banks Plc in Dublin will be glued to his screens through dawn as U.K. voters decide whether to stay in the European Union. It promises to be a record-setting evening, whether in terms of trading volatility or in gallons of coffee consumed.

"It is a unique opportunity for traders, probably not seen since 1992 Black Wednesday,” he said, referring to the September day when the U.K. government withdrew the pound from a European exchange-rate system. Sustenance will probably consist of Chinese noodles from the local deli, and “I will also ...

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