• About Us
  • Authors
  • Currency Charts
  • Live Exchange Rates
  • Contact Us

Exchange Rate Forecast

Exchange rate forecasts and foreign currency news

  • British Sterling
  • Euro
  • US Dollar
  • Australian Dollar
  • Canadian Dollar
  • Brexit News
You are here: Home / British Sterling / The UK go the Polls!

The UK go the Polls!

June 7, 2017 by Ben Fletcher

The UK go the Polls!

Tomorrow the UK will vote in the snap election called by Theresa May several weeks ago. Originally the election was seen as an opportunity for the Conservatives to drastically strengthen their majority against a weak Labour party. However Jeremy Corbyn appears to have instigated movement among the younger generations and the current gap appears, according to recent polls, to only be a few points. Whilst there isn’t expected to be an upset the majority needed for May to vote a deal through at the end of the Brexit negotiations may not be increased.

Tomorrow there is likely to be exit polls from around 10am which could provide an early indication with regards to how the vote will go. Exit polls in the last election where the Conservatives and David Cameron steam rolled the opposition were completely wrong, so it can risky to base decisions on them.

Effect of the outcome

When Theresa May called the Election the GBP/EUR exchange rate jumped up to 1.195, however the tightening of the race has caused that to fall. If the Conservatives do achieve a significant victory I believe the rate will start to move north again. If there is a hung Parliament that would cause further uncertainty and is likely to cause the exchange rate to drop with market nervousness moving in. If Jeremy Corbyn is voted in with the Labour party there could be a significant drop. I believe this to be the case simply because the Brexit negotiation team would have to change and there could be huge changes in the UK’s economic policy. There is a lot riding on tomorrow.

Filed Under: British Sterling, Euro Tagged With: GBPEUR, Pound Sterling weakness, Pound strength, UK election

The information on this website is provided for information purposes only. It does not constitute advice to any person on any matter. Every reasonable effort is made to ensure that the information is accurate and complete but we assume no responsibility for and offer no warranty with regard to the same.

Recent Posts

  • Sterling finds support but unlikely to make any significant impact in the coming days May 9, 2018
  • US Dollar hits 5 month high against Sterling May 2, 2018
  • Sterling exchange rates at the mercy of political developments May 1, 2018
  • Pound weakens as political uncertainty once again raises its head May 1, 2018
  • Will Mario Draghi’s speech impact GBP/EUR? April 26, 2018

Live Exchange Rates

Archives




Copyright © 2021 — Currency.co.uk • All rights reserved. • Exchange Rate Forecasts • Privacy Policy •

We use cookies to ensure that we give you the best experience on our website. By using this site you agree to receiving cookies.I agreeRead Privacy Policy