Sturgeon Lays Out Plans For Second Referendum

Scottish First Minister Nicola Sturgeon said she’ll start the legal process of preparing for a second independence referendum, threatening to open a new front in the Brexit battle as the U.K. government prepares to trigger negotiations.

Scotland, which voted to remain in the European Union, “stands at a hugely important crossroads” as a result of the U.K. decision to leave the bloc, Sturgeon said. The Scottish government repeatedly sought compromise with Prime Minister Theresa May’s government, only to be “met with a brick wall of intransigence,” Sturgeon told reporters in Edinburgh.

As a result, Sturgeon said she will seek the authority of the Scottish Parliament to agree with the U.K. government on a so-called Section 30 Order granting “the ability of Scotland to legislate for an independence referendum.” The referendum would be held between the fall of 2018 and the spring of 2019, she said on Monday.

Bloomberg

GBP Volatile as Surgeon Calls Scexit Referendum

Week Ahead All Eyes on Fed

NFP

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.