Pound Strengthens As Scots Vote To Stay With England
01:25, 19th September 2014
(RTTNews) - The British pound strengthened against the other major currencies in the Asian session on Friday as the 'No' voters were found to be in majority in the referendum on Scottish independence conducted on Thursday.
In the New York trading overnight, the pound was slightly higher against the other major currencies.
The pound rose to 2-year highs of 0.7808 against the euro and 1.5454 against the Swiss franc, from early lows of 0.7881 and 1.5301, respectively. If the pound extends its uptrend, it is likely to find resistance around 0.77 against the euro and 1.547 against the franc.
The pound, which ended yesterday's deals at 178.20 against the yen, appreciated to a 6-year high of 180.69. This may be compared to an early low of 178.07. The pound is likely to find resistance near the 181.00 region.
Moving away from an early low of 1.6385 against the U.S. dollar, the Sterling rallied to nearly a 3-week high of 1.6523. On the upside, 1.66 is seen as next resistance level for the greenback.
Looking ahead, Japan all industry activity index, coincident index and leading index for July are due in the Asian session.
In the European session, German producer price index for August, Eurozone current account data for July are due to be released.
In the New York session, U.S. leading indicators for August is due.
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