UK Election – Getting closer
In just under one weeks the people of Britain will go the polls to cast their vote in the UK elections. When Theresa May called the Snap Election the polls suggested a landslide victory for the Conservative party but since then a lot has happened – the manifestos have been published, polls are suggesting that the lead over the Labour is shrinking, so everything is starting to shape up for the 8th June election.
Latest poll（24 – 25 May）
It is predicted that the Conservative party should win this year’s UK elections however with a much smaller majority according to the current polls. This is mainly due to the recent publishing of their manifestos.
Now let’s look at the key policies of both frontrunners, the latest opinion polls and how the financial markets have reacted over the last few weeks.
Since Theresa May’s announcement to hold a snap General Elections back in April we have seen the Pound strengthening against the US Dollar and reach its highest level since September 2016.
What effect will the election results have on the Pound?
Most likely that it will strengthen if Theresa May wins the elections as expected but it could go the other way if Labour win the election on the 8th June. One thing is for sure – it is worth keeping up with the events leading up to the Election Day as we can expect movements in the Financial Markets.
Source: GO Markets MT4
In the previous article, we saw that FTSE100 suffered biggest one day percentage drop but since then the Index has not just recovered but more than recovered. On 16th May 2017, it reached 7,500 mark for the first time in its 33-year history.
-By Klavs Valters
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