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Pound Weakened by Concern that Election Will Result in Stalemate

April 27, 2010 at 12:24 by Vladimir Vyun

Great Britain poundThe Great Britain pound dropped today amid the concern that the forthcoming Parliamentary election, which will occur next week, will result in the government without the substantial support and strength to deal with the budget deficit.

The sterling is now led by the opinion polls and they don’t give many reasons for the optimism. Even after the election the U.K. currency remains in danger in case the politic infightings will prevent the government from resolving the budget shortage and strengthening the economy.

GBP/USD dropped to 1.5336 today as of 10:23 GMT from the opening price of 1.5456. EUR/GBP traded near 0.8680 after opening at 0.8656.

If you have any questions, comments, or opinions regarding the Great Britain Pound, feel free to post them using the commentary form below.

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