Election Fears Impact the British Pound
Monday, April 13th, 2015
Fears over a hung parliament at the upcoming UK General Election, to be held on 7 May 2015, helped to weaken the British Pound at the end of last week and experts are now warning that the currency is unlikely to recover until all uncertainty is removed and a new government has been successfully formed.
Sterling slumped as low as $1.4618 on the morning of 10th April, marking a five-year low against the US Dollar and its lowest level since the uneasy days that followed the 2010 General Election.
Despite a very slight recovery to $1.4637 by the end of the week’s trading, pre-election nerves are expected to continue to affect currency traders.
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