sterling

Artemis' William Littlewood does not expect the pound to suffer a sustained fall in the event of a ‘yes' vote in today's Scottish referendum, despite betting against the currency in his Strategic Assets fund.

The pound could dive a further 10% in as little as a week if a 'yes' vote on Scotland is approved, witnessing a sell-off reminiscent of sterling's fall on Black Wednesday more than 20 years ago, a manager has warned.

Sterling fell further this morning as political leaders headed to Scotland to encourage a 'no' vote.

Investors in all parts of the UK will face increased costs if Scotland votes for independence, Hargreaves Lansdown has warned.

Sterling tumbled in overnight trading and was poised for further losses today after the latest poll showed Scotland is on course for independence.

One of Europe's top officials has said Scotland will not be allowed to keep using the pound sterling and remain in the European Union in case of an independence vote.

CURRENCY

The managers of the Ruffer investment company have defended their portfolio's exposure to the US dollar, saying it will protect them against a trio of political events which could knock back sterling.

Housebuilder stocks have fallen and the pound is nearing 1.70 against the dollar as investors react to Mark Carney's change of tack on interest rates and new measures that may curb mortgage borrowing.

Stock markets have jumped this afternoon following a series of drastic measures from the European Central Bank to stave off a downturn and boost inflation.