Scottish Vote causes huge movement on Sterling Euro (Tom Holian)

The Scottish referendum now just over a week away has caused huge movement for GBPEUR exchange rates over the last few days as polls have come out showing that the vote is very close at the moment.

Indeed, this morning we saw Sterling fall by 1 cent against the Euro this morning following an early release poll but the fall earlier has been wiped out with Sterling strengthening this afternoon as the three leading political leads canvas for votes across Scotland.

David Cameron has claimed he would be ‘heartbroken’ if a yes vote takes place and personally I don’t foresee a Yes vote happening. With many previous elections/referendums the votes are often made out to be close in the few days leading up to the event but are then proved to be very inaccurate before the confirmation finally comes out.

Therefore, I think with investors nervous about holding Sterling at the moment this is why we’re likely to see large swings on the GBPEUR rates during the course of this week and next.

If you have a currency transfer to make and want to save money on exchange rates compared to using your bank then contact me directly for a free quote Tom Holian [email protected]