The British currency shows multidirectional dynamics, but even so was able win back more than 100 points in the pair GBP/USD from last week. Although if you look at the other currencies from the main basket, you can see that the growth for sterling is hard.
This is due to the parliamentary elections, which will be held tomorrow. Initially, when Theresa May announced premature elections, her position was quite strong, and the conservatives expected to get a majority in the government. In this case, for the Prime Minister of Great Britain it would be much easier to negotiate with Brussels about exit of the country from the European Union.
But last polls show that the Conservatives’ separation from Laborites has fallen sharply and now the results of the elections in doubt. If, according to the election results, Theresa May’s Party does not gain more votes, more than that the expensive event turn up useless, the pound sterling will wait significant sales.
And it will not the end only with complications in the work with exit from the EU. The United Kingdom can refuse Brexit, but this will have a positive effect on the British currency, although it will take time.