Sterling plunges on prospect of Scottish independence vote

Talk of Scottish independence "was the straw that broke the camel’s back" for the pound, said one analyst.

Scotland first minister Nicola Sturgeon says that she wants to proceed with a new independence referendum.

Sterling plunged to a 13-month low against the euro and fell below $1.20 for the first time since the start of the pandemic after Nicola Sturgeon, Scotland’s first minister, said she was set to share details of plans for a new independence referendum.

Ms Sturgeon said she was nearly ready to give more details on how Scotland’s devolved parliament could move ahead with a new independence referendum without the consent of the British government.