could see a softer Brexit being the goal of a working Labour government, political uncertainty - GBPs Achilles Heel in recent times - is likely to prevail in the short-run, says analyst Viraj Patel at ING. But, the Pound wants more, and this would be in the form of a landslide Conservative win as it will grant Theresa May a strong hand when negotiating Brexit. Over the decades, hes amassed.8 billion fortune, which includes one of the worlds largest private art collections and soccer team Tottenham Hotspur, according to the Bloomberg Billionaires Index. "Such a polling bounce for Labour was also eminently predictable (a similar occurrence took place for the Conservatives in the 1997 election, and we know how that turned out so we should see some cable buying as the session goes on points out Chris Beauchamp. Our hunch is that this is as good as it gets for Labour as the public's attention swings back to the main issue at hand for the UK - Brexit. Where Sterling goes from the initial news of a win is unknown but the Governments plans on taxation and spending will be key. The, institute for Fiscal Studies have reported on Friday, May 26 that Labour's plans for paying for its proposed expansion in state activity would not work. ERN - Nakfa Africa, eTB - Ethiopian Birr Africa, gMD - Gambian Dalasi Africa.
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We will continue to watch the polls, note that the weekend will have a slew of findings coming out for the Sunday papers. Nevertheless, GBP/EUR is under pressure and the recent outperformance of the Euro right across the board could be enough to keep the exchange rate moving lower. Of course calling an exchange rate level in an uncertain political environment leaves forecasters aiming at a moving target but the important points to pick up are the directionality and the relative size of the expected move. The analyst is therefore watching the GBP/EUR push through another intra-range barrier around.1494. The next two weeks could see more volatility for sterling as polling figures in the run up to the election become more frequent.