As early results trickled in that the Scottish referendum favored a No vote, most Asian equity markets rallied. The Nikkei is up 1.8%, the Kospi has risen 0.5%, the Hang Seng is up 0.4% and Taiex and the Shanghai Comp are marginally higher. All equity markets in Southeast Asia have rallied with the range being 0.2%–0.7%.
GBPUSD has rallied almost 1% to 1.6492 while EURGBP is down about 0.6% to 0.7837. Away from sterling, USD price action has been modest, with EURUSD up slightly to 1.2924, AUDUSD steady at 0.8956, and USDJPY up to 109.24. The PBoC fixed USDCNY 35 pips lower at 6.1455. EM Asia currencies have similarly steadied. USDKRW has been nudged up to 1046.65 and USDMYR gapped up to 3.2432 on the open, but has since softened to 3.2370. USDIDR has chopped between 11986–12,050 and USDINR has dipped to 60.76.
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