Nothing to see here.

The pound is holding on to its daily gains this morning, remaining steady after Scotland’s First Minister confirmed she would be seeking a second referendum on Scottish independence as the UK gets ready to begin its Brexit process.

Nicola Sturgeon said she would seek to hold a vote between the autumn of 2018 and spring of 2019 as the UK’s exit terms from the EU become clearer. A final decision on whether to hold the vote will rest with MSPs.

Sterling is 0.45 per cent up against the dollar – unchanged by Ms Sturgeon’s remarks that she was confident of holding and winning a second vote.

Addressing journalists at Bute House, Ms Sturgeon said she has no choice but to support another independence vote after a first referendum was defeated in 2014.

“The [UK govenment] are not interested in or willing to compromise, that is why I find myself in the position I am in today”, said Ms Sturgeon.

“The timing must be for the Scottish parliament to decide”.

“I don’t think it is right to be taken down a path which has not been chosen [by the Scottish people]“, added the first minister who said she was not asking Scots to “choose” between the UK or EU.

Latest polling suggests that Scottish voters would still choose to stay as part of the union if another vote was held.

Chart via Bloomberg

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