Scottish vote triggers short EUR/GBP bets
No vote clears political uncertainty and lets traders focus on fundamentals
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
More on Foreign Exchange
Average reported daily UK FX turnover hits record high
Daily turnover of $2,881bn in October 2019, up 2% from previous high of $2,821bn in April
PBoC injects 1.2 trillion yuan as markets plunge
Chinese central bank eases to support economy as coronavirus spreads; Q1 GDP growth could drop to 4%
Spot volumes on platforms resumed downward trend in 2019
But an uptick was seen in FX swaps and forwards submitted for settlement
PBoC extends market closure as coronavirus spreads rapidly
Chinese central bank extends interbank markets closure and vows to maintain ample liquidity
