Economy

Demeter

(85,373 posts)

20. Scottish independence: pound slumps to lowest level for 10 months

Mon Sep 8, 2014, 05:42 AM

Sep 2014

http://www.theguardian.com/politics/2014/sep/08/scottish-independence-pound-slumps-to-lowest-level-for-10-months

Sterling has slumped to its lowest in nearly 10 months after an opinion poll showed supporters of Scottish independence taking the lead for the first time since the referendum campaign began.

The pound skidded nearly 1% to around $1.6165, reaching lows not seen since November, when trading opened in Asian markets on Monday.

There are fears it could fall up to 10% thanks to uncertainty about what might happen to the currency if Scotland votes to split from the UK.

“I think the message here is that the market really hadn’t priced in the possibility of a ‘yes’ vote, so therefore we will probably see some uncertainty, maybe some volatility,” said Jesper Bargmann, head of trading for Nordea Bank in Singapore...

BUT IS IT FEAR, OR CONSEQUENCES?

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