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FX volatility already commenced as USD is soaring massively since 2 months. A Yes vote may coincide with the top but I don't think it can be a trigger of a sell-off on broader markets. Ultimately, Scottish economy is 10% of UK. In fact, the Yes vote was already priced in on Monday morning after the poll results and it recovered in the afternoon.
Gold?
ReplyDeleteDidn't move since yesterday's post. not much to add.
ReplyDeleteA Scottish yes vote on the 18th will be the FX volitility trigger that precedes a 20%+ general indices correction.
ReplyDeleteFX volatility already commenced as USD is soaring massively since 2 months. A Yes vote may coincide with the top but I don't think it can be a trigger of a sell-off on broader markets. Ultimately, Scottish economy is 10% of UK. In fact, the Yes vote was already priced in on Monday morning after the poll results and it recovered in the afternoon.
ReplyDelete