Scotland decided

Markets have rallied and the pound has posted gains against a range of currencies including both the Euro and US Dollar in a positive response to the news that Scotland voted to reject independence. What is surprising is the vote was not as close as opinion polls were suggesting (55% voted no). In our opinion, this definitive result has brought an end to the prospect of months of difficult negotiations, uncertainty over the division of national assets and debt, and the currency arrangements of an independent Scotland. This is clearly extremely good news for both the UK and global financial markets. Indeed, markets are now likely to focus on the fundamentals of the UK economy.

 

Antony Summers
Private Client Partner

Telephone: +44 (0)20 7893 3456
Email:  getintouch [at] broadstoneltd.co.uk