Pound falls as election uncertainty flares

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London - The pound fell versus the dollar, a day after touching its lowest level in more than five weeks, as the outcome of the June 8 snap election remains far from certain.

Rising market stress exactly a week before the vote has seen a gauge of implied volatility in the pound climb. A YouGov study published in the Times on Wednesday showed Theresa May’s Conservative Party may fall short of a majority, an outcome that wasn’t on the market’s radar just a few weeks ago.

Sterling declines were limited by UK data that showed manufacturing activity maintained momentum in May.

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USD/ZAR
14.24
+0.3%
GBP/ZAR
19.81
+0.3%
EUR/ZAR
17.19
+0.3%
AUD/ZAR
11.07
+0.1%
JPY/ZAR
0.13
+0.1%
Gold
1,819.57
+0.3%
Silver
27.30
-0.0%
Palladium
2,932.50
-0.6%
Platinum
1,259.00
+0.3%
Brent Crude
68.09
-1.3%
Top 40
62,412
+1.1%
All Share
68,340
+1.1%
Resource 10
71,800
+2.6%
Industrial 25
86,262
+0.2%
Financial 15
12,632
+0.5%
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