Pound Slips Ahead of Election – 10 December 2019

While narrow British polls showed Prime Minister Boris Johnson’s conservative party was in the lead, the pound slipped slightly ahead of this weeks election. The pound last traded 0.1% lower to $1.3140, having slipped as low as $1.3107, after hitting an eight month high of $1.3215 earlier in the week. Against the euro, sterling fell from the two year high of 0.8394 it reached on Tuesday to 0.8449, and fell from a seven month high against the yen to 143.39. The dollar index was just above a one month low at 97.496. With investors awaiting tariffs on Chinese goods to take effect later this month, the dollar slipped to 108.74 yen having gained 0.15% the previous session. The euro was steady at $1.1094, having gained 0.23% the previous session, and the kiwi shed 0.3% to $0.6526.