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Pound slips after poll suggests hung Parliament

Pound slips after poll suggests hung Parliament

The British pound came under pressure on Wednesday after a new poll found that British Prime Minister Theresa May's Conservative Party risks falling short of an overall majority in next month's national election.

The Conservative Party say the next five years will be the most challenging that Britain has faced since the war, as Brexit will define Britain's place in the world, its economic security and its future prosperity.

Sterling GBP=D3 weakened against the dollar late Wednesday after the YouGov poll but was trading at $1.2857 on Thursday, about 3 cents above where it was trading at the start of the campaign.

"The movement in the polls over this campaign is bigger than in any election I've covered since 1945", veteran poll watcher David Butler said on Twitter.

They showed Theresa May's party might lose 20 of the 330 seats it holds, with Jeremy Corbyn's Labour gaining almost 30 seats.

"We shouldn't write off the thought that young people will turn out for this election (in large numbers) - but I think it's unlikely", Boon said.

The Conservatives would still be the biggest party, but would not have an overall majority. Yesterday a poll from Kantar showed the Tories' lead over Labour had stretched to 10 points.

May and her team have been promoting the idea that Jeremy Corbyn is closer to becoming prime minister than other polls suggest he is, and this reminder of how "close" the election is may well help her narrative.




The opposition Labour party polled 39 percent against the Conservatives' 42 percent.

Corbyn is clearly relishing the apparent growing sense of unease among voters that May might not be the tough leader she and her party have claimed and which has been a central feature of the party's election campaign so far.

"Yes, Jeremy Corbyn has gained ground during this campaign".

The referendum on Britain's European Union membership galvanised a lot of older working class voters a year ago, bringing many people to the voting booth for the first time or after a long absence.

Kathleen Brooks, research director at City Index Direct, added: "At this late stage of the United Kingdom election campaign, the pollsters are more divided on the size of the Conservative Party's lead than at any other time during the election".

The Financial Times said in an editorial that an increased Conservative majority could lead to more hardline Eurosceptics in May's party.

But she hit back saying the electorate had to choose between May's "strong and stable" leadership or a "coalition of chaos" led by Corbyn and formed with the other parties at the debate.

But the Conservatives confirmed that interior minister Amber Rudd would represent the party as planned at the BBC hustings.

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