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Pound surges in Asia on referendum


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Old 09-19-2014, 06:42 AM   #1
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Uk Pound surges in Asia on referendum

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.

"That contingency plan is no longer required. Following the result it is business as usual for all our customers across the UK and RBS."

In a statement, Lloyds Banking Group said: "The group is proud of its strong Scottish heritage and remains committed to having a significant presence in Scotland. We remain fully focused on supporting households and businesses in Scotland as well as right across the rest of the UK."

Over the past couple of weeks the pound had fallen on fears that Scotland would vote in favour of independence.
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