Sterling drops after latest poll indicates a hung parliament in UK general election

Posted by Christian J. Hadjipateras 31/05/2017 0 Comment(s) Economia Blog,


This morning the GBP was 0.3% lower against the US at $1.2822 and 0.33% lower against the EUR at €1.1455. While the Pound has been volatile ever since the UK voted to leave the EU last year, the latest drop is likely to be a reaction to the latest surprise poll. 


When Prime Minister Theresa May announced a snap election last month many were predicting a comfortable Conservative Party victory over the Labour Party, the main opposition, with some even suggesting a landslide comparable to when Tony Blair became Prime Minister in 1997.


The gap in the opinion polls have also narrowed in recent weeks. The Conservatives currently have a majority of 17 in the UK Parliament. If the latest poll proves to be correct and the Conservatives do not win outright, they would have to form a coalition. 


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