Article by ForexTime
As the campaign for independence for Scotland gains ground, currency markets got spooked and sold off the British pound, which opened with a gap lower versus the US dollar early on Monday.
Cable opened in Asia at 1.6175 compared to Friday’s New York close of 1.6328, the lowest level since February.
A poll according to a YouGov Plc for the Sunday Times showed a majority vote in favor of Scottish independence. The percentage of voters in favor of Scotland breaking from the United Kingdom rose to 51 percent less than two weeks before the referendum.
The shift in sentiment ahead of the Sept. 18 vote raised the prospect that a split that seemed unlikely a few weeks ago is now thinkable.
The Yes Scotland campaign is spearheading the independence drive, while Better Together, backed by all three main political parties in London, is pushing for the union. Nationalists need a simple majority in the Sept. 18 ballot to end Scotland’s more than 300-year-old union with England and Wales. The modern U.K. also includes Northern Ireland.
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Article by ForexTime
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