Sterling Selloff If No Currency Union Warn Goldman Sachs
Sterling Selloff If No Currency Union Warn Goldman Sachs.
There we have it folks on the morning of the 19th of September at the London Stock Exchange the Bank of England will be announcing the idea of the no campaign of refusing to the Proud New Scottish Nation that we cant use the pound was all a big joke gone to far and we formally ask no we demand you guys join our currency!
This website has always stated this to be fact now you can read between the lines what has just been put out by Bloomberg’s below.
A win for Scottish nationalists seeking a breakaway from the U.K. may have “severe” consequences in the short term and spark a pound selloff, according to Goldman Sachs Group Inc. economist Kevin Daly.
“The uncertainty about whether Scotland will leave the sterling monetary union could create” a crisis similar to the one that almost splintered the euro area, Daly said today in an interview with Anna Edwards on Bloomberg Television’s “On The Move” program in London. “In the long run, there’s no reason to believe why Scotland couldn’t prosper as an independent country. Our concerns are predominantly about the short-to-medium term, but those concerns are pretty severe.”
As Scotland enters the final days of campaigning before the Sept. 18 plebiscite, the currency market is taking notice after a YouGov Plc poll for the Sept. 2 editions of the Times and Sun newspapers showed the pro-U.K. camp leading by six percentage points once undecided voters are stripped out, from being 14 points ahead in the last YouGov poll conducted on Aug. 12-15.
After initially dismissing the referendum, investors “realize that this is going to be disruptive in an economic sense if the Yes camp win,” John Normand, head of foreign-exchange and international-rates strategy at JPMorgan Chase & Co., told Edwards and Mark Barton on the “Countdown” program. “People realize increasingly that the undecided camp is big enough to swing this” and that is why “volatility is picking up,” he said.