The GBP/USD pair is getting weaker a bit on Thursday as the market is analyzing perspectives of forthcoming parliamentary elections in the United Kingdom,
After three trading sessions of stable movement, the GBP/USD pair is under pressure again against the USD. The current quote for the instrument is 1.2861.
The statistics published this morning showed that the Nationwide HPI decreased by 0.2% m/m (+2.1 y/y), although it was expected to lose 0.1% m/m (+2.5% y/y). However, the next week won’t see a lot of responses to the statistics, because all attention will be switched to parliamentary elections and Theresa May’s status after them.
A new survey from YouGov says that the spread between the Conservative Party, which is the party of the state, and the Labour Party, which is the opposite one, decreased up to 3 points. Now, they are almost equal: 41% and 38% respectively. It means that anything can happen during these elections, including May’s party losing the majority in the Parliament.
This, in its turn, may result in more political disturbances of different kind as the country approaches the Brexit. And that really is too much for London.
However, it is fair to say that the Pound looks pretty stable so far. Investors aren’t increasing short-term sales yet, but may do this at any moment.
RoboForex Analytical Department