The pair closed in NY Thursday at $1.6255 after rate had built on its recovery off Wednesday lows of $1.6052, as further polls showed the Scottish independence No still in the lead over Yes, with rate touching a high of $1.6270 during the NY afternoon. An expected poll release by YouGov (last Sunday had shown Yes camp with a two point lead) into the NY close had the No vote ahead by 4 points. Suggestion of a pre release leak had seen cable retest the $1.6270 level, with confirmation taking rate on to $1.6277 into the Asian open. Rate pared react gains through the balance of the session, on general dollar demand, the rate easing off to $1.6229 before consolidating around $1.6230 through to the European open. Euro-sterling, which had seen late NY recovery highs of stg0.7978, off earlier lows of stg0.79475, dropped to stg0.7941 on the pollresult into Asia before recovering to stg0.79595 and holding stg0.7955/60 ahead of Europe. Poll results continue to influence sterling ahead of Thursday’s vote/Friday morning result, though with the No vote looking to lead provides wary buoyancy for sterling. Resistance in cable $1.6280/85 ahead of $1.6300 with a technical gap to last Friday’s close at $1.6332 still looking to be filled.
