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For GBP, focus stay’s on Scottish vote - Scotiabank

FXStreet (Guatemala) - Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained that the focus continues to be on Thursday’s Scottish independence vote and the risks associated with it.

"The market is nervous. We continue to expect a ‘yes’ vote to drive GBP down to 1.55; where as ‘no’ vote is likely to see GBP recover some of its recent losses, likely testing up to 1.66."

"In terms of inflation, CPI came in essentially as expected, rising 0.4%m/m and 1.5%y/y on headline; as core rose 1.9%y/y, slightly above expectations. Inflationary pressures in the UK provide some room for the BoE to prove less hawkish; however we do not find today’s data surprising enough to shift our views."

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