London - The pound led a rally
against the dollar in early European trading, retracing the loss from
Tuesday, as fixing-related demand triggered stop-loss orders.
as much as 0.9% to $1.2256, after falling by the same amount
yesterday, with a
YouGov poll for The Times showing that 57% of Scottish voters
want to remain inside the UK compared to 43% who seek
dollar fell against major peers as traders wait to see if the Federal
Reserve would signal four rate rises this year, from the three flagged
“There’s a bit of a push lower in the dollar ahead of the Fed
decision, which is putting some pressure on short sterling positions,”
David Forrester, G-10 FX strategist at Credit Agricole’s corporate
and investment-banking unit in Hong Kong.
“There is also some news of
polls suggesting that Scottish people don’t support leaving the UK”
Fixing-related demand triggered stop losses above $1.2200 for the
pound, a trader in Europe said. Offers around $1.2250 by macro accounts
capped the move, the trader added.
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