The value of the pound fell in early trading today after a YouGove poll showed a majority support for Scottish independence for the first time.
The poll, released on Sunday, showed 51% of voters now back Scotland’s exit from the UK. Just one month before, the Better Together campaign had a 22-point lead.
There was a shift to yes across all ages and demographics, with the exception of the over 65s.
The results saw sterling suffer it’s biggest intra-day loss in over a year, falling to $1.6150 against the dollar.
Kit Juckes, head of foreign exchange research at Societe Generale, said:
“If the ‘Yes’ vote wins, I wouldn’t be surprised to see a 3% to 5% fall in sterling.”
Sterling was the worst performing major currency in the world today and as the referendum votes looms on September 18th.
Howard Archer, chief UK economist at IHS Global Insight, said:
“The latest poll will only add to the pressure on sterling. This will certainly be a challenging week and Monday is likely to be a particularly difficult day for the pound.”