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NewsBreak: Pound Hits 2-Year High vs Euro on Election Victory Outlook

Published 04/12/2019, 12:28
Updated 04/12/2019, 12:41
© Reuters.

© Reuters.

Investing.com -- The pound hit its highest level against the euro in over two years on Wednesday on increasing confidence that the general election on Dec. 12th will return the Conservative Party to power with a healthy majority. It also hit a six-month high against the dollar

Opinion polls have consistently put Boris Johnson's Tories ahead of the left-wing Labour Party by a margin of between 9 and 12 points. Under normal circumstances, that would guarantee it a majority of seats in the House of Commons. However, traders have held back from betting on such an outcome in recent days, wary of a late surge by Labour or Liberal Democrats, which could create another 'hung' parliament and thwart Johnson's plans to complete Brexit.

GBP/EUR at 1.1810, down from a new high of 1.1815, the highest since May 2017.

GBP/USD at $1.3082, the highest since May 2019.

U.K. 10-Year Gilt yield at 0.72%, up 5 basis points vs Tuesday.

FTSE 100 at 7,173.36, up 0.1% vs Tuesday.

Latest comments

Why on earth does anyone want to keep this lying *****in Government.  when i look at some of the names in the comments, they are non English, It says to me that either you have NO idea what you are talking about and are trying to encourage morons to follow your trading advice, or you actually have no idea what Brexit means
i think very positive results
Check the recent history of elections in USA and Europe . Something scary like london bridge attack happens right before election and RW wins!
and once Brexit done 2+ eur to the pound, happy days
Wait till the Brexit negotiations starts. There will be huge fluctuation 1.26 to 1.34.
Pound is expected to keep the momentum in a short run after tories's election victory.
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