sterling took a knock today after new
research from YouGov suggested that the
Conservatives could fail to win an
overall majority in the UK's June eighth
general election the pollsters findings
caught the markets attention when they
will release during Asian trade and the
pressure stayed on the pound for much of
a European morning buy enough for it to
fall under its closing level on April
18th the day to resume called the
election but the pound pared its losses
as a more nuanced view of the research
emerged and the less dramatic findings
of other polls were factored in to
investors thinking sterling fought back
from its low point under one dollar
twenty eight cents back above that level
leaving it steady overall on the session
analysts currently agree that the
importance of UK politics as the main
near-term influence on the currency is
difficult to overstate during the
campaign the pound has generally risen
with the poll ratings of the government
and come under pressure when there's a
perception that the election race is
tightened the turbulence leaves the
pound short of its recent high of one
dollar 30 which came when expectations
of a bigger conservative majority peaked
don't figure the pound was training over
one dollar forty-eight before the brexit
vote last year while that valuation is a
distant memory it does look as if
investors will need to stay tuned in to
UK politics after the Labor Party's
strong campaign and significant fight
back in the polls the longer-term
outlook for the pound will of course be
defined by the makeup of the next
government and what investors think that
will mean for the kind of Bridget
agreement it will reach with the EU but
before the polling that really matters
at the ballot box on June 8 there is
likely to be further volatility ahead