Keep an ‘aye’ on the pound

LAST UPDATED: 13 May, 2015 @ 17:38
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Keep an ‘aye’ on the pound

And never thought upon
The flames of love extinguished
And freely past and gone?
Is thy kind heart now grown so cold
In that loving breast of thine,
Than thou canst never once reflect
On old-long-syne?

THIS week, all eyes will be on on the Scottish referendum result. The Bank of England – set up by a Scot – and the UK political parties have rallied to defend the ‘No’ vote.

Salmond and Cameron are pounding pavements to have the last word. Scotland breaking away from the UK has captured the hearts and minds of the British people, however, it will all boil down to money and currency.

Since leading retailers like John Lewis and Aldi declared potential price rises on the weekly shopping bill, the ‘No’ vote has swung into the lead.

Poll results are changing by the hour and price action on sterling is responding to the percentage of votes either way.

Let’s hope the Scottish people keep the Union intact so that sterling will respond positively.

From Europe this week, it will be about gaining some positive data to improve sentiment. Last week there was a smidgin of good news as industrial production rose by 1%.

There is also a chance that the US may raise interest rates on Wednesday with the improving economic climate across the pond.

Keep an eye on the pound.

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