Sterling falls to two-week low on reports of second Scottish referendum

Down 0.7% to $1.238

Tom Eckett
clock • 1 min read

Sterling fell to a two-week low against the dollar this morning following reports the Scottish National Party (SNP) is preparing to demand a second referendum on Scotland's independence in the near future.

According to The Times, Prime Minister Theresa May is preparing for Scotland to call another referendum on independence once she triggers Article 50, the process which will begin Britain's exit from the European Union. Sterling falls to lowest levels since 'flash crash' as May signals 'hard Brexit' However, May has the power to block the demand as ministers have warned her she would risk the break-up of the UK on a "coin toss". Following the news, the pound fell 0.7% to $1.238 - its lowest level since 15 February - while against the euro it dropped to a one-week low of €1.1733. ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

UK inflation rises to 3.8% in July

UK inflation rises to 3.8% in July

Core CPI also up to 3.8%

Sorin Dojan
clock 20 August 2025 • 2 min read
Bank of England meets expectations and cuts rates to 4%

Bank of England meets expectations and cuts rates to 4%

Lowest level in two and a half years

Isabel Baxter
clock 07 August 2025 • 4 min read
Think tank warns UK fiscal hole could surpass £50bn by 2030

Think tank warns UK fiscal hole could surpass £50bn by 2030

Government not on track to meet ‘stability rule’

Sorin Dojan
clock 06 August 2025 • 1 min read