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Cautiousness still drives GBP – Danske Bank

FXStreet (Edinburgh) - In the view of Sverre Holbek, Senior Analyst at Danske Bank, the Scottish referendum wil continue to be the main driver behind the sterling.

Key Quotes

“In the global FX market focus will likely continue to be on the upcoming Scottish referendum on 18 September after the latest opinion polls indicate a dead heat between the ‘Yes’ and the ‘No’ camp”.

GBP/USD has declined more than 2% over the past week, as investors have priced in an increased risk premium on the currency”.

“The outcome of the referendum and the possible consequences in the event of a ‘Yes’ remain highly uncertain and for that reason GBP should continue to trade with a risk premium ahead of the referendum”.

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