The pair closed in NY Thursday at $1.6399, just off intraday highs of $1.6409, as late polls suggested the result of the Scottish independence referendum would produce a No vote. As results began to filter through from the actual vote, showing the No camp ahead it prompted further sterling demand which pushed rate initially to $1.6460 in early Asia before increased No voting results, especially in the larger regions, provided theadded momentum to take rate to overnight highs of $1.6525. Rate did pullback to $1.6466 as Glasgow voted Yes but the overall vote seems to support a No vote, which in turn keeps cable buoyed toward $1.6500 at writing. Euro-sterling also reflecting this boost to sterling as the rate broke below Thursday’s low of stg0.7853, extending the recent pullback to 26-month lows of stg0.7810. The cross currently trades back at stg0.7836 as the initial sterling enthusiasm fades on profit taking as market awaits the full Europe open. Cable trades around $1.6490 at posting. Resistance remains at $1.6525, support at the earlier pullback low of $1.6466
