14-point lead for conservatives
The Pound has hit a fresh 31- moth high against the Euro today after two polls showed gains for the Conservative party and losing for Labour. This has pushed the odds for a Conservative majority to 80%, confirming expectations that Boris Johnson remains on track to secure the win.
A BMG poll for the Independent showed the Conservatives up two points to 41% and Labour down 1 point to 32%.
A poll out from Survation for ITV’s Good Morning Britain show had the Conservatives up 2 points to 45% and Labour down 2 points to 31%. Any lead of over 7 points suggests an outright majority, while a lead of 14 points would signify something close to a landslide. Survation’s equivalent poll in the 2017 election, released four days before polling day, showed the Conservative lead down to just one point, making Survation the most accurate pollster in the 2017 election.
The Polls Suggest that a Sterling buy trend remains in place with just four days to go until the vote. GBP/EUR exchange rates rose to its highest levels since May 2017 when it cleared 1.19 briefly.
The GBP/USD exchange rate rose to 1.3180, just above last week’s 7-month highs at 1.3162.
The rise in the odds for a Conservative majority has matched with a broad-based rally in the value of the Pound as markets continue to see a majority win for the Conservatives as being the most market-friendly outcome.
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