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Forex pairs in this Article » (Barcelona) - Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that UK Prime Minster Cameron is expected to commit to holding a referendum by 2017 on the UK's ongoing membership of the EU in his delayed key note speech today.

He feels that it is a strategy which aims to increase his ability to renegotiate a better deal for the UK with other EU partners in the interim to support a stronger "Yes" vote campaign. Hardman writes, "With recent public opinion polls closely divided over the UK's ongoing membership, it is a high risk strategy which could lead to the UK's exit. It creates an additional source of uncertainty which is unlikely to be helpful for economic growth."
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