Pound Higher As Lead For Tory Soars In Opinion Polls
18 Novembre 2019 - 06:51AM
RTTF2
The pound gained ground against its major counterparts in the
early European session on Monday, as latest opinion polls showed a
growing lead for the Conservative party over Labour ahead of the
general election on December 12.
The YouGov poll for the Sunday Times showed a 17 point lead to
the Tories, rising by 45 percent, while support for Labour remained
at 28 percent.
Deltapoll survey for the Mail on Sunday gave the Conservatives a
15-point lead, at 45 percent, against 30 percent for Labour.
The polls suggested that the Tories were maintaining a solid
lead, enough to attain a Commons majority in the election.
Johnson, Labour leader Jeremy Corbyn and Liberal Democrat leader
Jo Swinson will be speaking at the Confederation of British
Industry annual conference today.
Investors are also awaiting more developments on U.S.-China
trade negotiations.
According to a report in Chinese media, U.S. and China had
"constructive discussions" regarding a phase-one trade deal in a
high-level phone call.
The currency has trading higher against its major counterparts
in the previous session, except the euro.
The pound appreciated to 0.8522 against the euro, its highest
since May 6. The next key resistance for the pound is likely seen
around the 0.84 level.
The pound firmed to near a 4-week high of 1.2985 against the
greenback from Friday's closing value of 1.2898. The pound is seen
finding resistance around the 1.32 level.
The U.K. currency rallied to 141.57 against the yen, its biggest
since May 20. Next key resistance for the pound is possibly seen
around the 145.00 level.
The pound strengthened to near a 5-week high of 1.2861 against
the franc, compared to last week's closing value of 1.2763. On the
upside, 1.30 is likely seen as the next resistance level for the
pound.
Looking ahead, U.S. NAHB housing market index for November is
due in the New York session.
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