There was some relief for the beleaguered British pound on Thursday after the most recent poll on the Scottish independence referendum showed a lead for those in favor of remaining in the U.K.

The currency plummeted earlier this week following the release of a poll that showed a narrow lead in favor of those wishing to separate from the U.K.

Some of that gloom lifted after a poll by Survation showed a lead for the "No" camp in next week's vote.

Sterling picked up slightly, although analysts cautioned that gains were likely to remain small for sterling while the uncertainty of the Sept. 18 referendum looms.

The pound traded at $1.6231 to the dollar, compared with Wednesday's 10-month low of $1.6052.

"If currency markets can sell off on a single opinion poll, perhaps the idea of rallying on a single opinion poll isn't as absurd as it would appear," said Paul Donovan, an economist at UBS.

In equity markets, most European indexes gave up small gains to trade broadly flat as the recent cautious tone persisted.

The Stoxx Europe 600 was flat midmorning. London's FTSE 100 was down 0.2%. A surge in support for Scottish independence has weighed on the U.K. blue-chip index in recent days, and cast a shadow over wider European markets.

Still, Scotland's two biggest banks-- Royal Bank of Scotland Group PLC and Lloyds Banking Group PLC saw their shares recover part of their recent losses after both said they would move their holding companies to England if Scotland votes for independence.

Elsewhere, U.S. stock futures were lower as investors looked ahead to next week's U.S. Federal Reserve meeting, which could shed light on plans to raise interest rates.

Futures indicated a 0.3% opening loss for the S&P 500. Changes in futures aren't necessarily reflected in market moves after the opening bell.

Bond yields in the U.S. and Europe have risen in recent days amid concerns that a rate increase could come earlier than expected. Yields rise as prices fall.

"Clearly, there are worries the Fed will take a more hawkish stance at its meeting next week. But the recent moves should be seen as profit-taking, not a reversal of the trend," said Jan von Gerich, chief strategist at Nordea.

Yields fell back slightly on Thursday, with the 10-year German yield down 0.04 percentage point at 0.98%.

Spanish bonds, which have suffered in recent days as investors worry that Scotland could fuel separatist ambitions in Catalonia, also recovered. Spain's 10-year yield was 0.07 percentage point lower at 2.20%.

Write to Tommy Stubbington at tommy.stubbington@wsj.com

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