09/08/14

Permalink UK pound falls as Scot supporters take lead in poll

The British Sterling has dropped to its lowest rate in nearly 10 months following an opinion poll showing supporters of Scottish independence in the lead. The pound fell by nearly 1 percent to 1.6 dollars on Monday, when trading opened in Asian markets, hitting the lowest level since last November. In addition, the pound fell sharply against the Japanese yen to 169.68, the lowest level in over three months and against the euro to 80.1 pence per euro. Meanwhile, experts believe that the sterling could fall up to 10 percent if Scotland votes to break away from the UK due to uncertainty about what will happen to the currency. The sell-off came in reaction to the Sunday results of a YouGov poll, which revealed that that 51 percent of Scots supported independence compared to the 49 percent who opposed it.

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