Pound in Thrall to Election Projections as Market Jitters Rise
- Currency fluctuates as separate polls paint mixed picture
- Sterling volatility has increased before the June 8 vote
Jefferies' Owen Says Sterling Should Trade Lower
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The pound is being buffeted by conflicting projections of the general election outcome, bearing the brunt of increasing market tension before next week’s vote.
Sterling first dropped to a more than five-week low on Wednesday after a YouGov Plc study in the Times, based on a new model, showed Theresa May’s Conservative Party may fall short of a majority -- a contrast from just a few weeks ago when a victory was seen as a foregone conclusion.