The British Pound advanced while the Japanese Yen declined as Scotland voted against secession from the UK, scattering uncertainty and boosting risk appetite.

Talking Points:

  • British Pound Trades Broadly Higher as Scotland Opts Against UK Secession

  • Japanese Yen Under Pressure as Firming Risk Appetite Sinks Haven Demand

  • See Economic Releases Directly on Your Charts with the DailyFX News App

The British Pond outperformed in overnight trade, rising as much as 0.9 percent on average against its leading counterparts, as results from the Scottish Independence Referendum pointed to a victory for the “No” campaign against secession from the UK. The tally from 31 of 32 reporting councils shows 55.4% of voters opting for the status quo and 44.6 percent in favor of independence.

The Japanese Yen proved weakest on the session, sliding as much as 0.7 percent against the majors. The move lower mirrored an advance in the benchmark Nikkei 225 stock index, pointing to ebbing haven demand for the safety-linked currency as the catalyst behind the selloff. The newswires attributed stocks’ upbeat performance to fading uncertainty in Scotland as well as a supportive set of US Jobless Claims figures released earlier in the day.

Looking ahead, a quiet economic calendar in European and US trading hour is likely to see risk sentiment trends at the forefront. S&P 500 index futures are pointing higher, hinting the Yen is likely to remain under pressure while Sterling continues to revel in fading Scotland-linked uncertainty.

FXCM, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. FXCM, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.

Recommended Content


Recommended Content

Editors’ Picks

EUR/USD stabilizes near 1.0800 as trading action turns subdued

EUR/USD stabilizes near 1.0800 as trading action turns subdued

EUR/USD holds steady near 1.0800 on Thursday and remains on track to end the day in negative territory following upbeat macroeconomic data releases from the US. The action in financial markets turn subdued as trading volumes thin out heading into Easter holiday.

EUR/USD News

GBP/USD extends sideways grind above 1.2600

GBP/USD extends sideways grind above 1.2600

GBP/USD fluctuates in a narrow channel above 1.2600 on Thursday. The better-than-expected Initial Jobless Claims data from the US and the upward revision to the Q4 GDP growth help the USD stay resilient against its rivals and limits the pair's upside.

GBP/USD News

Gold pulls away from daily highs, holds above $2,200

Gold pulls away from daily highs, holds above $2,200

Gold retreats from daily highs but holds comfortably above $2,200 in the American session on Thursday. The benchmark 10-year US Treasury bond yield stays near 4.2% after upbeat US data and makes it difficult for XAU/USD to gather further bullish momentum.

Gold News

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP price falls to $0.60 support as Ripple ruling doesn’t help Coinbase lawsuit against SEC

XRP programmatic sales ruling by Judge Torres was completely rejected by another US Court that ruled in favor of the SEC in a lawsuit against Coinbase. 

Read more

Portfolio rebalancing and reflation trades emerge into Q2

Portfolio rebalancing and reflation trades emerge into Q2

Yesterday’s price action pointed at a possible end-of-quarter portfolio rebalancing as the session saw the laggards of the quarter like Apple and Tesla gain, and the stars like Microsoft and Nvidia retreat.

Read more

Majors

Cryptocurrencies

Signatures