Britain's financial markets, as well as those in Europe, welcomed Scottish voters' decision to stay a part of the UK on Friday. This reflected the relief that stemmed from the fact that the UK would not deal with a tumultuous breakup and an extended period of uncertainty. However, the pound's previous rally earlier in the session was quickly lost while stocks, which previously in the day had increased for the most part, were soon mixed, reports The New York Times.
On Friday morning, Prime Minister David Cameron honored the pledge made to Scotland that involved him giving it more autonomy in taxation and spending. However, he hinted that he would strive for similar autonomy for England as well.
"Just as Scotland will vote separately in a Scottish parliament on their issues of tax, spending and welfare, so too England as well as Wales and Northern Ireland should be able to vote on these issues, and all this must take place in tandem with and at the same pace as the settlement for Scotland," Cameron said, according to The New York Times.
According to Pound Sterling Live, the currency climbed to a 2 year high against the euro, and traded even higher as soon as polls closed. The U.S. dollar conversion rates remained generally strong.
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