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Sterling tumbles as Scottish ‘yes’ vote takes shock lead

Cherry Reynard
Written By:
Cherry Reynard
Posted:
Updated:
05/12/2014

Sterling tumbled in overnight trading and was poised for further losses today after the latest poll showed Scotland is on course for independence.

A YouGov survey for the Sunday Times showed the “yes” campaign now has the majority, with 51% of the vote compared to unionists’ 49%.

With the referendum less than two weeks away, the latest poll sent sterling tumbling sharply against the US dollar, down almost 1% at $1.6192 having traded as low as $1.6165 at one stage.

The move down left sterling at its lowest level since last November.

Investors sold sterling as it emerged even the Queen is concerned about a break-up.

The Sunday Times quotes a senior source who said: “The Queen is a unionist. There is now a great deal of concern.”

Although many Scottish business leaders have shot down the argument’s behind the “yes” campaign, the independence movement has nonetheless gathered strength over recent months. However, until this latest poll it has never had a majority and was expected to be edged out by the unionists.

 


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