Pound Sterling Price News and Forecast: GBP/USD strengthens as UK election results are being declared
|Pound Sterling appreciates as exit polls predict a landslide victory for the Labour Party
The Pound Sterling (GBP) continues its winning streak on Friday. As UK election results are being declared, exit polls predict a landslide victory for Keir Starmer's Labour Party, expected to win 410 seats in the 650-seat House of Commons, while the Conservatives are projected to secure 131 seats. The outcome of the election should be clear by early Friday.
Derek Halpenny, head of FX research at MUFG Bank Ltd., suggests that a Labour landslide could be advantageous for the Pound Sterling. A substantial majority would grant Labour a strong mandate for governance, potentially leading to greater political stability. Read more...
GBP/USD tepid as UK election results poised to match early polls, US NFP looms ahead
GBP/USD traded in a tight range on Thursday as Cable traders await final results from the UK’s Parliamentary Election, and markets gear up for a fresh round of US Nonfarm Payrolls (NFP) slated for Friday. US markets were dark on Thursday, crimping overall market flows during the American trading window, but are slated to return on Friday.
The UK’s Parliamentary Election is wrapping up, and initial tallies are confirming what was largely projected by entry and exit polls: the UK is likely to elect the Labour Party’s Keir Starmer as the first non-Conservative UK Prime Minister in 14 years. Read more...
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