Pound depreciated by 0.20 percent in yesterday’s trading session on the back of strong dollar and concern over another possible Scottish independence vote. In intraday Pound touched a low of 1.2382 and closed at 1.2442 against Dollar.
Pound is expected to trade with negative bias on the back of strong dollar and divergence in monetary policy. Further, worries over another possible Scottish independence vote may hurt pound. Report said UK Prime Minister may agree to new Scottish independence referendum vote to be held in March.
The Scottish government is confident it can win a new independence referendum. It is expected that Referendum may happen after UK exits EU. Traders will remain careful ahead of debate in parliament over Brexit and U.S. President Donald Trump speech. Trump is expected to give some details on infrastructure spending and tax plans. GBPINR March expected to trade in a range between 82.50 on lower side and 83.50 on higher side with downward trend.