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Pound surges on Scottish ‘No’ vote

Pound surges on Scottish ‘No’ vote

LONDON: The pound has hit a two-year high against the euro and a two-week high against the US dollar, as Scotland voted against independence.

In early Asian trade, sterling jumped 0.43% to 1.2743 euros. The pound also jumped nearly 0.8% to $1.6525 against the US dollar, before falling back slightly. The FTSE is also expected to open higher.

Meanwhile, RBS confirmed it would not be moving its registered head office now that independence had been rejected. “The announcement we made about moving our registered head office to England was part of a contingency plan to ensure certainty and stability for our customers, staff and shareholders should there be a ‘Yes’ vote,” the bank said.