Sterling rises on eve of UK snap election

Economies.com
2019-12-10 20:31PM UTC

The British pound rose today against the US dollar, as focus shifted to the United Kingdom's early general election on Thursday, December 12.

 

Most prospects indicates that the Conservative Party led by British Prime Minister Boris Johnson will win the parliamentary majority, which paves the way for the UK's exit from the EU by the end of next January.

 

The recent opinion polls point out the "Tories" enjoy a lead over Jeremy Corbyn's Labour party in the snap election, which in this case will allow Johnson and his government to implement the Brexit and end the divorce fight that has been casting its shadows over the British scene since mid-2016, when London held a historic referendum that resulted in the majority voting in favour of leaving the EU.

 

The British economy revealed today that manufacturing production rose by 0.2% in November, while the industrial production fell by 0.1% in the same month.

 

As for trading, GBP/USD rose by 0.4% to 1.3194 as of 20:29 GMT, the pair hit a high of 1.3216 and a low of 1.3133.

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