Pound drops as May reported to brace for new Scottish referendum

London

THE pound fell against all its major peers after The Times newspaper reported that UK Prime Minister Theresa May's team is preparing for Scotland to potentially call for an independence referendum.

Sterling, which has been held hostage by politics since a Scottish referendum in 2014, fell as much as 0.6 per cent after the newspaper cited unidentified government sources as saying that Mrs May could agree to a new Scottish vote, but on condition it is held after the UK leaves the European Union.