The world's main stock markets continued to move higher today as Britain headed to the polls in a referendum on EU membership. 

European shares rose for the fifth consecutive day, with London's FTSE index closing 1.23% higher, while the Frankfurt DAX 30 index rose 1.22%, and the CAC 40 in Paris was 1.96% higher.

Shares in Dublin ended the day 1.28% ahead.

Meanwhile, confidence of a 'Remain' vote is high in the US with both the Dow Jones and Nasdaq up around 1%.

World financial markets appear to be banking on a 'Remain' victory in the referendum. 

Meanwhile, sterling hit its highest level of the year in earlier trade this morning as traders continued to bet on Britain voting to remain in the EU. 

Sterling hit $1.48, building on its rise all through the week after opinion poll data showed a narrow lead for the Remain camp. 

It later eased to $1.47 and experts believe that it is bookmakers' odds that currency traders are following. 

The pound has now surged by 4% over the past seven days, helping it reclaim all its losses seen since the start of the year.

On Monday, sterling notched up its biggest one-day gain against the dollar for nearly eight years.

Famous currency trader George Soros said earlier this week that a vote to leave the EU will trigger a plunge in the pound greater than Black Wednesday in 1992, when sterling plunged 15%.