Pound Rises to Two-Year High Versus Euro After Scottish Vote No

The pound rose this week to a two-year high versus the euro as Scotland voted to keep the U.K.’s 307-year-old union intact, dousing concern a separatist win would delay Bank of England plans to raise interest rates.

Sterling touched the highest in two weeks against the dollar yesterday after opponents of independence were declared winners with 55 percent of the vote in Thursday’s Scottish referendum, removing the risk to the currency from a splintering of the union. The pound dropped earlier this month as polls suggested the outcome was too close to call. U.K. government bonds declined, pushing two-year yields to a two-month high.