LONDON, March 13 Sterling inched higher against
the dollar and euro on Monday after Scottish National Party
leader Nicola Sturgeon said she would seek permission to hold a
fresh Scottish independence referendum which would be held at
earliest in late 2018.
The pound initially fell below $1.22 as the
Scottish leader announced she would seek authority to hold a new
vote as Britain gets ready to trigger Article 50, its formal
notification of exit from the European Union.
But it swiftly turned to bounce higher after she said
Scotland must be offered a new independence vote between the
autumn of 2018 and the spring of 2019.
The UK currency was last up 0.4 percent at $1.2222, around
10 ticks above levels seen when Sturgeon started speaking. It
also rose half a percent on the day to 87.26 pence per euro.
(Reporting by Ritvik Carvalho; editing by Patrick Graham)