The pound kept its strength up for most of yesterday, however it is slightly weaker this morning as the latest YouGov poll predicted a narrowing Conservative lead. Released at 10pm yesterday evening, it forecasted that the Tories would win with a majority of 28, with 339 seats in Parliament versus 231 for Labour. At the end of November, the Conservatives were projected to win a 68 seat majority. This latest poll suggests that the possibility of a hung parliament shouldn’t be ruled out.
Yesterday, the pound wasn’t fazed by poor economic data, which showed that the British economy failed to grow in the three months to October, and industrial production grew less than expected month-on-month.
UK GDP was unchanged in October after shrinking in August and September. Many economists cite the global slowdown and Brexit as the reasons for this stagnation.
With only a day to go before the polls open, parties have been concentrating on their key pledges, with Labour talking about the NHS and the Conservatives focussing on Brexit.
