Pound Slids on Concerns over Potentially Scottish Independence Referendum
Feb, 27th 07:41
British Pound stumbled versus almost of its peers on Monday amidst concerns over mounting possibilities of upcoming Scotland’s independence referendum.
Sterling dropped more than 0.4% against its American counterpart to trade at $1.242200 per pound after the Times cited unidentified government sources, reporting that U.K. Prime Theresa May’s team was preparing for Scotland to call for an independence referendum in March.
According to the news, May could agree to a new Scottish vote if only it is held after the U.K. leaves the European Union. Meanwhile, the Scottish government appears to be increasingly confident it can win a new independence referendum. As stated by sources close to the Edinburgh administration, the government is considering calling one next year as Britain departs from the EU.
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