Snap UK election good for pound?

Remigio Civitarese
Aprile 20, 2017

"Now is the time for a General Election as it would strengthen our hand in European Union negotiations", the prime minister said.

'Every vote cast for me, Theresa May, and the Conservatives will count towards strengthening Britain's hand in the Brexit negotiations and delivering our long-term vision for the UK.

"The outcome of the United Kingdom election now adds an element of short-term uncertainty about how the Brexit negotiations will unfold, while the big rally in the British pound has increased volatility and had a knock-on impact on the United Kingdom stock market".

Aggregate polling data published by the Times on Wednesday put Conservative support on 43%, Labour on 24%, the Liberal Democrats on 11% and UKIP on 10%.

The Lib Dems believe their anti-Brexit position will draw in voters anxious about the UK's divorce from the EU.

"The decision to call a snap election on June 8 is not without risk, but given a 20-point lead in the polls the Conservatives should be able to materially increase their working majority in parliament", said Mike Amey, head of sterling portfolio management at the bond fund PIMCO.

With Mr Dempsey calling it "an honour" to be a candidate and refusing to rule out standing again, it now appears more likely that voters in North Swindon will see a re-run of the 2015 election.

The research was carried out on Tuesday and Wednesday - after Theresa May announced her intention to go to the country.

"This election is about her Government's failure to rebuild the economy and living standards for the majority".

Meanwhile, former deputy prime minister Nick Clegg confirmed that he will fight to retain his Sheffield Hallam seat for the Liberal Democrats.

The early ballot will give the prime minister - or her replacement - more time to implement Brexit before another election.

The Prime Minister's motion for an early general election is widely expected to pass in the Commons today.

Blaming the Tory dominance on Labour's performance under Jeremy Corbyn, he said the Tories were set to win an even bigger majority "when we desperately need representatives who will at least keep an open mind".

But Scotland's first minister, Nicola Sturgeon, described the decision as a "huge political miscalculation" that could help her efforts to hold a new independence referendum.

The Scottish National Party (SNP) has signalled its MPs will abstain in the vote and Labour and the Liberal Democrats, while accusing May of political opportunism, have welcomed the prospect of an early election.

Peers would also be forced to back the priorities under the Salisbury Convention, which means that the Lords will not try and vote down government plans mentioned in an election manifesto.

"I invite all of them: come on board with us and see what we can do together, to create that decency in Britain".

"We expect to have the Brexit guidelines adopted by the European Council on 29 April and, following that, the Brexit negotiating directives ready on 22 May", Aamann told AFP.

She said: "What people want is for us to have control of our borders".

London's main FTSE 100 index, made up chiefly of multinational companies whose global revenues get more valuable when sterling falls, has outpaced the rest of Europe's main markets since the vote last June.

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