Pound Continues to Struggle as Independence Vote Looms

The vote on Scottish independence is coming up on Thursday, and the pound continues to  struggle on uncertainty surrounding the outcome of the vote, as well as speculation about what might happen if the Scots really do vote to split off from the United Kingdom.

On September 18, the residents of Scotland will head to the polls to determine whether or not they want to remain part of the United Kingdom. The United Kingdom has been existence for more than 300 years, and Scotland’s vote could break that up.
Right now, the pound is mostly lower against its major counterparts on the uncertainty surrounding the move. First of all, it’s far from certain what the outcome will be. From advance polls, it appears that the vote is pretty evenly split; there is no way to call it.
Additionally, there is uncertainty over what might happen if there is a yes vote. England has threatened to not let Scotland keep using the pound, and there is speculation about what the loss of Scotland might do to the overall economy of the United Kingdom.
At 10:29 GMT GBP/USD is down to 1.6196 from the open at 1.6233. EUR/GBP is up to 0.7999 from the open at 0.7973. GBP/JPY is down to 173.3520 from the open at 173.9930.

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