Blog


Pound Suffers Due To Second Scottish Referendum News

Sterling traded close to a two-week low against the dollar today as investors awaited a speech by U.S. President Donald Trump, with the pound kept under pressure by worries about the future of Britain as it leaves the European Union.

The pound fell to lows on Monday, its weakest in a fortnight, on reports that Scottish nationalists were preparing to demand a fresh independence referendum, possibly as early as March, to coincide with the government’s plan to formally trigger Britain’s exit from the EU.

Scottish First Minister Nicola Sturgeon said in a newspaper article on Tuesday that the “sheer intransigence” of the British government over Brexit could lead to a second referendum.

A British government spokesperson had said on Monday there should not be another vote, and that the mere threat of one was creating unnecessary uncertainty and division.

Sterling’s largely indifferent reaction so far to the flow of news on the possibility of a Scottish referendum follows the pattern seen in the run up to the 2014 referendum.

The risk Scotland’s first minister will call for a second referendum in the aftermath of the triggering of Article 50 could start to weigh rather more heavily on sterling in the weeks ahead.

Leave a Reply

Your email address will not be published.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

What's Going On?

Currencies 4 You Ltd is a company registered in England and Wales (registered no. 06866898). Registered office: Regus House Victory Way Admirals Park, Crossway, Dartford, Kent, DA2 6QD. Currencies 4 You Ltd Payment and Foreign Currency Exchange Services are provided by Currency Cloud Limited, Equals Connect Limited and Ebury Partners UK Limited. Currency Cloud Limited. Registered in England No. 06323311. Registered Office: Stewardship Building 1st Floor, 12 Steward Street London E1 6FQ. The Currency Cloud Limited is authorised by the Financial Conduct Authority under the Electronic Money Regulations 2011 for the issuing of electronic money. FCA registration number: 900199. Payment Services are provided by Equals Connect Limited, registered in England and Wales (registered no. 07131446). Registered Office: Vintners’ Place, 68 Upper Thames St, London, EC4V 3BJ. Equals Connect Limited are authorised by the Financial Conduct Authority to provide payment services (FRN: 671508). Currencies 4 You Ltd is partnered with Ebury Partners UK Limited as its Programme Mananger. Ebury Partners UK Limited are authorised and regulated by the Financial Conduct Authority as an Electronic Money Institution. (Reference Number 900797). Ebury Partners UK Ltd is registered with the information commissioners office with registration number: ZA345828. | Terms and Conditions | Privacy Statement | Careers