Monday , June 1 2020

Pound weakens as traders question ‘poll complacency’


The pound slipped as polls showed the ruling Conservative party’s lead narrowing into a December election, with tightening race raising investor fears about an inconclusive result.
The UK currency weakened versus all of its Group-of-10 peers as the latest surveys of voting intention showed the opposition Labour party making up some ground following the release of its manifesto.
The most positive outcome for investors betting the pound will rise is a Conservative win, whereas if no party gains a majority it raises the prospect that an impasse over Brexit will drag on into next year.
The pound has acted as a barometer of political risk throughout the Brexit process.

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