Time to get excited for the UK election!
This article is originally referred from easyMarkets News.
UK Election on the 8th of June
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- 18th April 2017 UK Prime Minister Theresa May Announced a Snap Election
- The announcement came after May had said several times that “there should be no general election until 2020”
- Sterling soared but FTSE dived after May named election date
- The election is happening in parallel with the UK’s decision to leave the European Union
- 8th June 2017 UK elections will happen
Is This a Good Trading Opportunity?
While market movements are never certain, the UK’s recent political decisions have had a noticeable effect on the British pound.
Brexit vote: GBP/USD dropped to more than 30 year lows. EUR/GBP sky-rocketed to highs it has not seen since then.
Snap election announcement: the British pound hit a six-month high.
Get the inside scoop from our own Senior Global Strategist
“When Theresa May announced the snap election on the 18th of April the sterling skyrocketed because the market was surprised and anticipated a Conservative landside win. However, as the election approaches, recent polls are not that clear. This election is not just about who wins, but about how much majority the winner gets. With so much uncertainty, the 8th of June is potentially a huge day for the Sterling”.
Will May Win the Election?
A poll commissioned by The Times, showed that the conservative lead has slipped at 42 points, and the Labour party stands just three points away from it at 39 points.
May is going head to head with Labour Party Leader Jeremy Corbyn. He has been leading his party for less than two years. This is his second serious challenge after the Brexit vote.
May will require the support of two thirds of MPs to win.
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Original Source: easyMarkets News