Europe Sees Relief Rally in British Pound and Banking Sector as Scotland Votes 'No'

The Scottish people rejected a vote for independence from the UK on Thursday with 55% of voters saying 'no' to independence. David Cameron, the UK Prime Minister, said he would start work to grant Scotland more powers. And, in a surprise move, Cameron also endorsed more autonomy for England, Wales and Northern Ireland. IG Index's Chief Market Strategist Brenda Kelly tells TheStreetTV that as the extent of those powers become more clearly defined, 'we could see softness in the pound.' European markets started the trading day Friday in relief rally mode because both the banking sector and the British pound initially moved higher. TheStreet's Ruben Ramirez has details from New York.