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GBP: sterling holds its range despite another narrowing in the polls

By Ricky Bean May 31st, 2017

Sterling continues to trade within a tight range, albeit at the weaker end of that range, as the focus firmly turns to the UK general election next Thursday. As noted above the latest poll highlights the possibility of a hung parliament. In a similar poll three weeks ago, the gap was 22 points.

Meanwhile, the Scottish National Party released its manifesto. The highlight was a call for a second vote on independence to be held ‘at the end of the Brexit process’.

On the calendar today we have the lending numbers to individuals which are correlated with consumer spending and confidence. It is likely that election news will continue to dominate the newswires for at least the next week.