UK Election Polls: Conservatives remains in lead over Labour – GBP positive

The latest UK election opinion polls for the UK newspapers showed on Sunday that the Prime Minister (PM) Boris Johnson’s Conservative Party continues to have an upper edge over the opposition Labour Party, as we head closer to the December, 12th snap election.

According to the YouGov poll conducted for the Sunday Times newspaper revealed that the support for the Conservatives (CON) stood steady on 39% vs. Labour’s (LAB) 1% drop to 26%. Meanwhile, the Liberal Democrats (LDEM) remained in third place, gaining 2 percentage points to 17%.

Separately, the Deltapoll for the UK daily, Mail, showed that the support for both the Conservatives and Labour rose by 1 percentage point to 41% and 29% respectively, and the third-placed Liberal Democrats gained 2 percentage points of support, rising to 16%.

Additional Opinion polls

Opinium/Observer – CON 41% (-1), LAB 29%(+3), LDEM 15%.

Panelbase – CON 40% (nc), LAB 30%(+1), LDEM 15%(+1).

FX Implications

As explained by FXStreet’s Senior Analyst, Yohay Elam, “markets prefer certainty – even if it means a Brexit accord that may be detrimental for the UK economy. A broad majority for Johnson will allow him to ratify the exit accord he reached with the EU without any help from the opposition. The agreement ensures a transition period that finishes at the end of 2020 or even later. 

That is why a Johnson victory is pound-positive.” 

“The best outcome for investors would be revoking Brexit. Swinson has pushed for this policy at the LibDem conference. If she becomes PM, the government is set to send a letter of revocation to Brussels – without the uncertainty of a referendum. However, her chances of winning are all but non-existent”, Yohay added.

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