Pound jumps on Scottish referendum result

Published: 19 Sep at 7 AM Tags: Euro, Dollar,

Indications that Scotland will not be splitting from the United Kingdom have sent the pound to a two-week high against the dollar. Thursday’s referendum on independence saw voters come out in force and vote against a UK break-up. A survey by YouGov earlier showed that 54 per cent of voters wanted Scotland to remain a part of the UK with 46 per cent wanting independence.

The pound is currently worth $1.6525, a hike of 0.8 per cent and the highest sterling has been since 2 September. Against the euro the pound reached a two-year high at 78.12pence per euro and is at its highest level against the yen in six years at 180.66 yen.

A fall in the number of jobless claims in the US helped the dollar climb to 109.46 yen, the highest the greenback has been against its Japanese rival in six years. Weak economic data coming out of Japan means it is likely that The Bank of Japan will introduce further stimulus measures.

The Federal Reserve aims to keep rates close to zero for the foreseeable future, but has indicated that rates could rise at some point in 2015. The dollar index has risen to a six-year high of 84.743.

The euro is currently worth $1.2917.