Sterling Recovers Ground, Focus on Polls After Conservative Lead Narrows

Wednesday, 27 November 2019 23:46 WIB



Sterling was a touch firmer on Wednesday, recovering from early losses following the third poll in a row that showed a narrowing lead for the governing Conservative Party before Britain’s Dec. 12 election.

The pound initially fell as much as 0.3% in early London trading after YouGov data released on Tuesday showed the Conservatives’ lead over the opposition Labour Party tightening to 11 points.

Sterling may also have been weakened by reports of a surge in under-35s registering to vote before a Tuesday midnight deadline, since young people are perceived as less likely to support the Conservatives.

Having fallen as much as 0.3% to a low of $1.2827 in early London trading, sterling recovered over the course of the day.

In late trade it was 0.1% firmer at $1.2874 and was a quarter of a percent stronger versus the euro at 85.42 pence.

Source : Reuters


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