2014 Scottish independence referendum

Pound, shares fall

8 Sep, 2014

The pound falls to a 10-month low after a YouGov poll for The Times becomes the first definitive survey to show the Yes movement leading ahead of the Scottish independence referendum, albeit by a narrow 51%-49% margin. The pound falls 1.3% against the U.S. dollar to $1.611, and falls 1% against the euro to 1.2488 euros. A Barclays research note says the independence vote is only ‘the opening chapter’:

[There will be] uncertainty over issues ranging from the timelines for political and economic independence, resultant institutional frameworks, lender of last resort for Scotland, the division of assets and liabilities, fiscal impact and policies, and what currency choices Scotland will have available and choose.

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