Why FXB Failed To Rally After The Scots Said No To Independence
- The Scottish people voted decisively against independence from the United Kingdom.
- Trading in FXB and other British pound currency pairs rallied in the days ahead of the vote, contradicting a presumed late swing to the YES camp.
- With buyers and betters against independence apparently all committed, the market was set up for a "relief reversal" after the NO vote.
- The trading bias on FXB returns to bearish for now but highly volatile conditions are likely to persist.