PT Solid Gold Berjangka | Pound Firm as Investors Embrace ‘Boring is Good’ with Labour Win
Currency Sterling, Poundsterling GBP/USD PT SGB Solid Gold Berjangka Solid Group SG Berjangka
Solid Gold Berjangka | The pound gave investors some much-needed certainty after years of market volatility under the Tories after exit polls showed Keir Starmer’s Labour party was set to win a majority in the UK general election.The centre-left Labour Party won 410 of the 650 seats in Parliament, giving the party a majority of 170 seats, and was on course to put an end to 14 years of conservative-led government.
Sterling was barely moving after the release of the exit poll, last trading around 1.2758 and the day was stable and the previously seen level change was hardly the Pound was also broadly unchanged against the Euro, which was 84.76 pence.
Sterling has been sharpened since conservative Prime Minister Rishi Snack called for elections in late May 5, earlier than expected. It is the most powerful major currency against the dollar this year, with a gain of 1.2%.
On a trade-weighted basis, the pound is back at the time of the 2016 Brexit vote, reflecting the belief among traders and investors that a period of intense market volatility driven by political and economic turmoil under the conservatives may be coming to an end.
Source: Reuters