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Pound under pressure in Asian trading following YouGov poll

A YouGov poll showing support for UK Conservatives had fallen in the lead-up to next month’s general election has kept up focus on the British pound in Asian trading on Friday.

The pound is the worst performer among major currencies today, down 0.5 per cent at $1.288 during the afternoon session in Asia. That follows a 0.2 per cent drop on Thursday.

On Monday and last Friday, sterling closed above $1.30 for the first time since late September.

Down 1.2 per cent, the pound looks set to be the worst performing major currency this week, double the decline of the next-worst unit, the Brazilian real.

The YouGov poll, which was the first since the terror attack in Manchester on Monday night, showed that the Tories now have a 5 percentage point lead over Labour, at 43 per cent to 38 per cent. Last week, the Conservatives scored 44 per cent to Labour’s 35 per cent.

YouGov said:

It has been a highly unusual few days in an election campaign, arguably unlike any other in history. There is no way of guessing what will happen in the two weeks to polling day but we will be able to be more confident about how voting intention settles down over the next few days.