Pound is seen losing the most if UK vote delivers no winner

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

London - The pound could plunge to as low as $1.20 on Friday, a level last seen in January, should the UK snap election lead to a hung parliament, according to a Bloomberg poll of analysts.

Such an outcome, though seen as unlikely, would be marginally more negative than even an electoral upset that sees the Labour Party defying odds to emerge the winner, according to the survey of 11 banks and brokerages. That suggests investors don’t share Prime Minister Theresa May’s view that when it comes to Brexit, not having a deal is better than a bad one.

A victory for May’s Conservative Party would be supportive of the pound, and this outcome is more or less already priced in, the analysts say.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
Rand - Dollar
14.13
+0.0%
Rand - Pound
19.86
+0.0%
Rand - Euro
17.07
-0.1%
Rand - Aus dollar
10.92
-0.0%
Rand - Yen
0.13
-0.2%
Gold
1,826.85
+0.6%
Silver
27.09
+0.4%
Palladium
2,863.32
+0.1%
Platinum
1,210.07
-0.3%
Brent Crude
69.32
+1.1%
Top 40
60,211
-2.1%
All Share
66,169
-1.9%
Resource 10
69,474
-3.1%
Industrial 25
82,513
-1.5%
Financial 15
12,499
-1.1%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 1436 votes
No, I did not.
52% - 3596 votes
My landlord refused
28% - 1910 votes
Vote