Economy, Business And Markets

Sterling Rebounds on Poll

Sterling Rebounds  on PollSterling Rebounds  on Poll

The British currency traded at 51,720 rials on Thursday and is likely to appreciate on Saturday, when the markets open in Tehran. On Friday, sterling rebounded from a 10 month low and a measure of implied price swings dropped as concern that Scotland will vote for independence next week subsided, allowing investors to focus on the strength of the UK economy.The pound appreciated versus most of its 16 major currencies after a Survation poll signaled a surge in support for Scottish nationalists had faltered.The pound dipped to $1.6048 on Friday before bouncing back to $1.6230 at 15:30 London time, still the lowest since Nov. 15. Implied volatility on the GBP/USD currency pair, a measure of future price swings used to price derivatives, dropped to 9.3275 percent after surging to 11.3 percent yesterday, the highest since 2011.