After slipping slightly in the morning, the pound strengthened yesterday and is still strong today despite a key opinion poll showing a narrowing Conservative lead. The poll casts some doubt over a definitive Conservative majority and suggests that a hung parliament is still a real possibility.
Today, the country is flocking to polling stations to vote in what may be the most divisive election in a long time. A Conservative majority, and therefore a boost for the pound, is still widely expected, but anything could happen.
After 10pm this evening, we could see volatility for the pound as the exit poll and results come in. Apart from the question of whether the Conservatives will achieve a majority, it will be interesting to see what happens to Labour’s ‘red wall’, if there is renewed support for the Liberal Democrats and if the SNP make gains, pushing the demand for a second referendum on Scottish independence.
