On the 18th September Scotland will vote on whether to remain part of the UK. The ramifications of the vote could have a significant effect on the value of the pound with some analysts predicting anywhere between a 5% to 15% devaluation if the 'YES' vote win and Scotland leaves the Union.
This has been reinforced in the past few days with implied volatility levels on GBP doubling from 4.5% to over 11%.