Pound slips as polls tighten, optimism holds on trade front

//Pound slips as polls tighten, optimism holds on trade front

The British pound began the week on the back foot as polls showed a tightening U.K. election race, while an unexpected rebound in Chinese manufacturing supported risk appetite. Sterling GBP= was a quarter of a percentage point lower at $1.2910 as a clutch of polls showed Prime Minister Boris Johnson’s Conservative Party losing some of its lead ahead of the Dec. 12 election, adding uncertainty. “A decent Tory (Conservative) majority is in the price,” said Chris Weston, head of research at brokerage Pepperstone. “GBP remains a buy on dips here.” More broadly, investors clung to hopes for a U.S.-China trade truce and … (full story)

2019-12-02T11:19:48+00:00