Sterling drops as election uncertainty lingers
The British pound retreated today amid lingering uncertainty over the UK's early general election set for next month, in addition to renewed concerns over the US-China trade war.
Brexit Party leader Nigel Farage said that he expects the Conservative Party to win the parliament majority in the next election at December 12.
Farage added that PM Boris Johnson might bag a slight majority, but the Conservatives will likely vote on his exit deal from the EU at January 31.
Otherwise, US President Donald Trump renewed his threats to increase tariffs against Chinese goods, if China didn't sign the first phase of the trade agreement.
As for trading, GBP/USD fell by 0.2% to 1.2925 as of 20:22 GMT, the pair hit an intraday high of 1.297 and a low of 1.291.
| Symbol | Last | Change | Chg.% | ||
|---|---|---|---|---|---|
|
|
|
1.1083
|
0.0021
|
0.1935%
|
|
|
|
|
1.3116
|
-0.0021
|
0.1599%
|
|
|
|
Tadawul
|
8125.68
|
59.26
|
0.73%
|
|
|
|
|
16.650
|
0.078
|
0.471%
|
|
|
|
|
58.885
|
-0.225
|
0.381%
|
|
|
|
|
63.89
|
-0.45
|
0.70%
|
|
|
|
|
1465.060
|
5.215
|
0.357%
|
|
