Scottish vote triggers short EUR/GBP bets

No vote clears political uncertainty and lets traders focus on fundamentals

jane-foley-rabobank-2011-2
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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