Pound Seen Tumbling Up to 10% on Scottish Yes Vote
From bloomberg.com
The pound, already suffering its worst month in more than a year, has the potential to tumble 10 percent should the Scots vote for independence from the U.K., according to economists surveyed by Bloomberg. A victory by Scottish First Minister Alex Salmond’s “yes” campaign would mean a 5 percent to 10 percent slide versus the dollar within a month, said 61 percent of the 31 respondents polled by Bloomberg Sept. 5-11. Sterling is already down 5.5 percent from a five-year high in July, and touched its lowest level in 10 months this week as momentum for the separatists increased. “The question is if it’s one bad day or ...
(full story)