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Scottish vote in the limelight – Danske Bank

FXStreet (Edinburgh) - Jens Pedersen, Senior Analyst at Danske Bank, underlines the importance of the referendum in Scotland.

Key Quotes

“In the global FX markets focus is on the Scottish independence referendum, which represents a significant short-term risk factor for the GBP”.

“We estimate that a risk premium in the range of 0.5%-1% is priced in and in the event of a ‘No’ this should be removed and EUR/GBP could drop below 0.785 almost instantly”.

“In the event of a ‘Yes’ we expect the GBP to weaken around 2%-4% but we stress that the uncertainty in this scenario is very high”.

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