- Posted by currencies in Bank of England, Bremain, Brexit, Currency, Dollar, Economy, EUR, GBP, Prime Minister, Sterling, UK, Uncategorised
- June 7, 2017
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Britain entered the final day of campaigning ahead of a parliamentary election that will define its approach to leaving the European Union but has been overshadowed by two militant attacks in as many weeks.
Prime Minister Theresa May unexpectedly called the June 8 election seven weeks ago, seeking to boost her parliamentary majority ahead of the start of Brexit negotiations and to win more time to deal with the impact of the EU divorce.
However, the campaign has seen a number of unexpected twists, including the deadliest militant attack in Britain since 2005 and a sharp contraction in May’s once commanding lead of over 20 percentage points in opinion polls.
If she fails to beat handsomely the 12-seat majority her predecessor David Cameron won in 2015, her electoral gamble will have failed and her authority will be undermined both inside her Conservative Party and at talks with the 27 other EU leaders.
When May stunned political opponents and financial markets by calling the snap election, her poll ratings indicated she could be on course to win a landslide majority on a par with the 1983 majority of 144 won by Margaret Thatcher.
But May’s poll lead has shrunk over the past three weeks. Latest polls put her party anywhere between 12 to 1 point ahead. One projection said she would win a majority of 64 seats.
Opposition Labour leader Jeremy Corbyn, a radical socialist once written off by many as a no-hoper leading his party to its worst election defeat, has run a strong campaign.
We expect a volatile 48 hours for Sterling. There are at least 5 opinion polls expected before polling stations open at 0600 GMT tomorrow.