YouGov Poll: MRP model projects a Tory majority of 68 – The Times (GBP prints fresh highs 1.2925)

The YouGov's official MRP poll has been released - This poll is regarded as the most reliable and has the capacity to really move GBP crosses – (The model accurately forecast the hung parliament in the 2017 General Election, even correctly projecting that seats such as Kensington & Chelsea and Canterbury would be won by the Labour Party).

Overnight, citing sources who have seen the YouGov MRP poll, the Guardian journalist Owen Jones reported that British Prime Minister Boris Johnson's Conservatives had a significant majority over the Labour Party.

"Labour's national share has gone up by a few points in the last week," Jones tweeted. "If that trend continued over the next week, it'd be a hung Parliament." GBP/USD bulls were all over the leak and cable subsequently rose into the 1.29 handle but a hung Parliament scenario was a thorn in the side for the bulls. "For clarity - if the rate of Labour’s recovery over the last week was replicated over the coming week, then next week’s figures would show a hung parliament," Jones further explained.

Results as follows (via Reuters)

• Boris Johnson on track 359.
• Labour on track for 211.
• MRP model projects a Tory Majority of 68.

"Johnson's Conservative Party could win 359 seats out of 650, up from 317 in the 2017 general election, according to the YouGov results published by the Times of London newspaper. The opposition Labour Party looks on track to secure 211 seats, down from 262, The Times said" - Reuters

Full report - The Times

FX implications

GBP has moved with 30 pip range on the release and is currently making fresh highs of 1.2925 at the time of writing.