Spreadex Market Update
Sterling continues to fluctuate ahead of the Scottish referendum.
European futures are currently indicating a marginally higher open this morning, with the FTSE 100 being called up 8.5 points at 6,796 and the Xetra Dax up by approximately 20 points. Sterling continues to fluctuate against attempting to incorporate the latest news flow ahead of the independence vote in Scotland. The pound has managed retain its value against the dollar, trading just above the $1.63 level.
Today is the last chance for investors to position themselves against the outcome of the vote, which has been priced at too close to call by the polls. Keep an eye of Sterling, The FTSE 100, Gilts and stocks with revenue streams tied to the Union. If Scots do vote to leave, the market will likely imply a large premium on protecting against volatility, potentially testing the bounds of recent price swings.
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