web analytics

Will GBP Take a Battering?

British MoneyToday, the 18th of September 2014 is the day when the citizens and residents of Scotland finally get to vote on whether Scotland will become a completely independent state of the UK and with the results likely to be known in the early hours of tomorrow morning, the money markets are going to be very active today.

As such if you are a Binary Options Broker or a Forex trader, then you will need to be aware that today is going to be a very volatile one in both trading environments, as early exit polls are going to be released throughout the morning, afternoon and night, and this is going to have an immediate and instant effect on the value of stocks, indices and on the value of GBP.

There has of course already been many polls taken in the run up to this vote, and both sides have been, at one time or another in the lead. The UK Pound did take a bit of a battering in its value last week, however that seemed to level off with it making back most, if not all of the ground it previously lost.

There are several commentators who are claiming that the vote is not going to be as close run a thing as it is expected, and as such we have seen many savvy Binary Options traders and Forex traders taking a very conservative view in regards to which trades they place, however the early exit polls will have such a dramatic effect n the money markets today, then you will need to keep that in mind and be very aware that your trades could instantly become very profitable ones today or quite possibly losing one’s!

If you are in any doubt as to which trades you should be placing today, then it may be worth your whilst taking a step back and having a break today, for as soon as the results are known the money markets may just get back to normal, unless of course Scotland decides to become an independent state, then those money markets are likely to be in turmoil for many months.

Whatever way to markets move today and the vote goes tomorrow, if you do plan on placing any Binary Options trades or Forex trades today then good luck, and let us hope you are spot on the money and place many winning and profitable trades!

Related Articles

US Banks To Allow More Debt By Opening To Corporate Borrowers

Corporate borrowers have now become the biggest borrowers from US banks based on recent industry data from the Federal Reserve.

Egypt Imposes Penalties For Trading Dollars On The Black Market

The Egyptian government has introduced penalties for traders selling foreign currency on the black market. An acute dollar shortage has

Euro Declines Against Dollar Raising Parity Expectations Again

The recent sustained decline of the euro against the dollar has renewed speculation that the single currency could reach parity