Sterling’s implied volatility, skyrocketed, and Pound suffered after series of polls indicate that exit camp is gaining momentum.

Pound was first hit by Guardian Poll, last week and dropped sharply from 1.473 to as low as 1.45 against Dollar, as it showed Brexit camp is leading with 52% to 48% favoring stay. That poll pushed Sterling implied volatility in one-month options above 20%.

Now a series of latest polls, published by YouGov/ITV and Observer/Opinium confirmed the lead for Brexit camp. As per YouGov, leave camp is leading with 45%, over stay camp’s 41%. A different poll by Observer/Opinium on Sunday showed 3% lead by exit camp.

Sterling plummeted to 1.433 in early morning trade but recovered somewhat since then, currently trading at 1.445 against Dollar.

Sterling one-month implied volatility against Dollar, rose to 21.9%, highest since February 2009.

A survey by Daily telegraph shows 69% of its 19,000 subscribers intend to vote for leave.

Sterling may suffer further downfall, at least towards 1.425 area, if polls continue to indicate the exit camp is leading.