The pound rose to a two-week high against the dollar on speculation Scotland rejected independence in a referendum, keeping the U.K.’s 307-year union intact.
Sterling appreciated at least 0.3 percent against all 31 of its major peers as a YouGov Plc poll of voters yesterday predicted the “no” campaign gained 54 percent of the vote, compared with 46 percent for the nationalists. In Clackmannanshire, the first district to give its results, those against independence totaled 19,036, exceeding the 16,350 “yes” votes. The final outcome of the referendum is due early local time today.
“There’s been a good surge in the pound and a lot of that is probably pricing in the possibility of a ‘no’ vote,” said Imre Speizer, a markets strategist at Westpac Banking Corp. in Auckland. “Results from the YouGov poll, the last to be taken, coincided with a sharp rise in the pound.”
Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015