020 7898 0500Sterling suffered before recovering as political uncertainty once again dominated the headlines. The latest YouGov polls sent sterling lower as the threat of a hung parliament initially loomed large. However, it later recovered against the US dollar, though still stayed lower against the euro.
There are many analysts in the city who simply don’t buy what YouGov is saying. Still, the fact remains that sterling is particularly sensitive to the political climate right now and, with Jeremy Corbyn’s surprise appearance at the leader’s debate last night, we can expect to see more movement throughout today.
Looking to the day ahead, there will no doubt be further political news as the campaign trail continues, while the first set of the May Purchasing Indices (PMI’s) for manufacturing is set for release. A slight fall from Aprils figure is predicted.
