Odds of a Tory majority continue to rise

Hi everyone,

It has been an eventful few days for Sterling as we head into election week, with 2-cent gains against the Euro & US Dollar.

We have had a huge amount of trades go through this week, as clients look to hedge their bets and take advantage of the Pounds recent surge, before the uncertainty of election day. As it stands, the polls have a Tory lead of 10%, but a 3% drop to 7% and it's a hung Parliament scenario (bad for the Pound), so still very close.

The odds though have risen to 72% chance of a Conservative victory and Labour's repeat of 2017 of closing the gap look all but over. There will be updated polls this weekend, that no doubt will move the market come Monday morning. 




Upcoming Data

Friday, 6th December, 2019

13:30 US - Non-farm payrolls, unemployment rate & average earnings
20:00 US - Consumer credit 


Dan Waterman
Office Manager



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