Sterling Jumps on Speculations Scotland Will Remain in UK

The Great Britain pound demonstrated solid gains at the previous trading session as well as at the current session, though retreated a bit from today’s highs. The currency was lifted by speculations that Scotland will remain a part of the United Kingdom after yesterday’s referendum.
Citizens of Scotland were voting yesterday at a referendum about country’s independence from the UK. While the results are not known as of yet, the latest polls showed that there were more ‘no’ votes than ‘yes’ votes. The sterling was falling previously on concerns about potential Scotland’s secession and now rallied with hopes that the UK will remain intact.
GBP/USD rose from 1.6393 to 1.6489 as of 2:15 GMT today, reaching the high of 1.6524 intraday — the highest rate since September 2. GBP/JPY rallied from 178.13 to 180.23, and its daily high of 180.71 was strongest since October 2008.

If you have any questions, comments or opinions regarding the Great Britain Pound,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *