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- Scottish parliamentary elections could trigger initial pound selling - MUFG
Scottish parliamentary elections could trigger initial pound selling - MUFG
eFXdata reports that MUFG Research discusses the pound's prospects in light of the Scottish parliamentary elections on Thursday.
"The pro-independence parties of the SNP (68), Alba Party (2) and Greens (9) are expected to win 79 out of the 129 seats available.
A majority for the SNP on its own could trigger some initial pound selling by strengthening the SNP’s case to hold a fresh independence referendum. However, we share the market’s view that the negative pound reaction this week should be relatively limited...The UK government is unlikely to be sympathetic to calls to hold a fresh independence referendum during the pandemic," MUFG adds.
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