Sterling slips ahead of election

Daily Currency Update

Sterling has slipped this week after Friday saw another terror incident on London Bridge leave two dead and numerous injured. In horrific scenes at a prisoner rehabilitation event, convicted terrorist Usman Khan stabbed two Cambridge graduates Jack Merritt and Saskia Jones before being tackled by attendees of the conference and members of the public and being shot by police. The awful incident has put law and order back to the forefront of the British public's mind after years of Conservative austerity.
As a result GBP has dipped this morning with Labour gaining a touch in the polls raising the chances of a hung parliament, however bookmakers still have a Tory majority the most likely outcome. GBP/USD is currently around the 1.2920 handle with GBP/EUR down to 1.1730.
This week polling and reaction to the terror attack will likely direct the pound however we also have the UK hosting a NATO summit on Tuesday/Wednesday so any comments by Donald Trump on the UK election may influence sterling, possibly to its detriment if he says anything to endorse Boris Johnson or berate his opponents. Join our webinar tomorrow at 1pm to find out how you can plan your FX for potential election outcomes. Register Here.