Scottish vote triggers short EUR/GBP bets

No vote clears political uncertainty and lets traders focus on fundamentals

Jane Foley, Rabobank

Sterling is set to gain against the euro after Scotland voted to stay within the UK and cleared a major political risk to the currency, allowing traders to focus on divergent monetary policies and fundamental factors in the medium term.

The pound hit a two-year high against the euro on Friday morning, after the results of the Scottish referendum were announced, with the cross trading at 0.7820. This led to a number of short EUR/GBP trade recommendations as strategists look to exploit diverging

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