The pound strengthened against the euro yesterday, as polls showed the Conservatives to have a significant potential lead over Labour in the upcoming election, following the publication of their manifesto. However, subsequent polls revealed that the Conservative lead could be narrowing, causing the pound to weaken slightly against the euro and the dollar this morning.
The British election is also having an impact on the euro, keeping it down in a week with few economic releases. Today, we will hear from several key ECB figures speaking in Frankfurt, and it will be interesting to see if they drop more hints than Lagarde did last week.
The dollar saw little movement yesterday, but today we will see a number of important releases, including new home sales, which should help provide a snapshot of the American economy.
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