Sterling drops on poll showing risk of hung UK parliament…
The British pound dropped today after a new poll found that British Prime Minister Theresa May's Conservative Party risks falling short of an overall majority in the June 8 national election. New constituency-by-constituency modeling by YouGov showed the Conservative Party might lose 20 of the 330 seats it holds while the opposition Labour Party could gain nearly 30 seats. The news came after a string of opinion polls show a narrowing lead for May's Conservatives, shaking the confidence among investors that she would easily win a majority in the election. “The narrowing in the polls has clearly dented sterling's performance and continues to weigh on the currency, and is probably likely to do so in the near term.
Source: investing
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