Pound Gains as Scots Concern Eases With Economy Poised to Grow
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The pound strengthened and a measure of implied price swings dropped as concern that Scotland will vote for independence next week subsided, allowing investors to focus on the strength of the U.K. economy.
Sterling appreciated versus most of its 16 major peers after a Survation poll yesterday signaled a surge in support for Scottish nationalists had faltered. Credit Agricole Corporate & Investment Bank analysts urged traders to ignore the referendum and pay attention instead to Britain’s growth outlook as it raised its forecast for the currency.