Scottish Independence Weighs on Pound

UK pound is lower today, thanks in large part to the latest poll on Scottish independence. The latest numbers indicate that those favoring a split from the United Kingdom have pulled ahead of those opposed to the split. The idea that the United Kingdom is falling apart is one that is weighing on the pound today.

The latest poll regarding Scottish independence is in, and for the first time those in favor of a split have more support than those opposed. Right now, 45 percent are opposed to Scotland leaving the United Kingdom, while 47 percent are in favor. The remainder are still undecided, or have said they won’t vote in the upcoming referendum.
Even though those in favor of independence say they would keep the pound as the basis for the money, there are still plenty of questions about what a split would do to the UK pound. Besides, England still says it wouldn’t share the pound with an independent Scotland. On top of that, even independence doesn’t go through, it looks like there will be a slim enough margin that a vote could routinely come up, creating crises for the pound every few years.
Right now, the pound is mostly lower. EUR/GBP is up to 0.8032 from the open at 0.8013. GBP/USD is down to 1.6117 from the open at 1.6166. GBP/JPY is down to 169.5500 from the open at 169.7750.

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