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FTSE 100 Falls as Scottish Yes Campaign Gains Traction

FTSE 100 Falls as Scottish Yes Campaign Gains Traction

After climbing to 6877.97, its highest point since June, last week, the FTSE 100 has been dropping steadily ever since and on Wednesday morning was down at 6802.10. The drop was largely caused by polls on the upcoming Scottish referendum putting the Yes campaign ahead for the first time.

While the index has risen slightly since the latest poll results were announced, it is still on a general downwards trend and is expected to continue in this vein for the coming days. The referendum on an independent Scotland will take place on September 18th.

The polling data released over the coming days is likely to impact the markets. If the Yes campaign stays in the lead then the FTSE 100 is likely to drop even further. However, if the No campaign gets ahead then there is likely to be a recovery of both the FTSE 100 and the GBP in general.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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