Pound 2-Year High Shows Bets Scotland Votes ‘No’
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Currency traders are betting that Scottish nationalists’ bid for independence will fail today.
The pound strengthened for a third day versus the euro, reaching its highest level in two years, as Scotland’s electorate voted on whether to end a three-century-old union with the U.K. Sterling appreciated versus most of its 16 major peers as a poll by Ipsos Mori showed 53 percent of those surveyed said they would vote “no.” A gauge of future price swings fell by the most since 1999. U.K. government bonds tumbled, pushing 10-year yields to the highest in seven weeks.