GBP/USD to fall 2% if Labour Party wins majority - Reuters

Omkar Godbole FXStreet Contributor

Sterling would bounce around 3% if Prime Minister Johnson's ruling Conservative Party gets a majority in parliament on Dec. 12 but will fall 2% if the opposition Labour Party wins a majority, a Reuters poll conducted between Oct. 31 and Nov. 6. found.

GBP/USD is currently trading largely unchanged on the day at 1.2849

Key points

Median forecasts in the wider poll of almost 70 foreign exchange strategists said one pound would be worth $1.28 in a month, $1.26 at the end of January and $1.32 in a year.

Prime Minister Johnson is currently ahead in opinion polls.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.