EUR Strength Ahead of Scottish Referendum (Matthew Vassallo)

It’s been a volatile week for the EUR following further uncertainty over the Scottish referendum. A poll earlier this week indicated that the vote was at 51% in favour of Scottish independence, news which shook the markets, sending Sterling crashing against the single currency. The EUR has reached a high of 1.2397 against Sterling this week, although by close of European trading today the Pound has managed to realign itself above 1.25 on the exchange.

Personally I do not expect Scotland to breakaway and with the UK recovery still outpacing that of the Eurozone, we may find the EUR struggles to make any serious inroads against the Pound in the short-term.

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