By: Economic & Finance Report
UK elections are drawing closer, and the British pound is very volatile as the elections progress in the country. The pound sterling dissipated this past Friday, (May 26th, 2017) as new election polling data from the United Kingdom, showed that Prime Minister Theresa May was in the forefront of the general elections by a mere 5 points. During the course of 2017, Prime Minister May had been leading her challengers by over 20 points. The drop has been placing the sterling silver on a roller coaster ride.
May who has a majority currently in national parliament and local branches of government, is now seen as not being able to hold a wider majority throughout the country as anticipated. If this becomes a reality then the Torres (Prime Minister May’s party) will have a smaller faction, then they had in 2015-2016 elections; which can then translate in a downward trend for the currency. -SB