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Trading news
23 Apr 2015
GBP could come under election pressure - FXStreet
FXStreet (Guatemala) - Omkar Godbole, Editor and Analyst, suggests that the market is underestimating the risk of the UK elections.
Key Quotes:
"With Labour and Conservatives in opinion polls, many believe that Scotland's National Party could play a deciding role in the election."
"Going into the elections, it appears as if there is a high possibility of a hung parliament, which is likely to weigh over the Pound next week. In 2010, we had seen, the GBP/USD drop 300 pips in run up to elections. On election day it dropped 400 pips and then another 500 pips in the following 2 weeks."
"A similar action could be seen in the next week, leading to a surprise rebound in the EUR/GBP pair to 0.7250 levels."
Key Quotes:
"With Labour and Conservatives in opinion polls, many believe that Scotland's National Party could play a deciding role in the election."
"Going into the elections, it appears as if there is a high possibility of a hung parliament, which is likely to weigh over the Pound next week. In 2010, we had seen, the GBP/USD drop 300 pips in run up to elections. On election day it dropped 400 pips and then another 500 pips in the following 2 weeks."
"A similar action could be seen in the next week, leading to a surprise rebound in the EUR/GBP pair to 0.7250 levels."