The pound climbed toward a five-month high versus the dollar as traders took cues from betting odds that point to the U.K. voting to stay in the European Union, rather than opinion polls showing the referendum is too close to call.

The British pound was off to a horrid start against the greenback on Monday morning in Asia, as early Brexit polls saw the 'Leave' campaign gain momentum.

As both the main US dollar pairs were trading higher, the cross remained unchanged on the day, waiting for direction.

The euro-sterling cross was flattish on Monday, with only Germany's Ifo index on the agenda during the day, leaving trading to sentiment and the technical situation.

Avoid risk and exit sterling related trade ahead of the Bank of England's policy meeting.