Seven-Week High for Pound

The pound is so far having a good old week.  Having reached a high against the US dollar on Wednesday, it reached a 7-week high today after a poll showed that the opposition Conservative party have a clearer lead against the Labour party.

In the past weeks and months, a hung parliament has looked ever more likely with neither party showing signs of being a clear majority winner.  The Tories have always managed to stay slightly ahead but the level shrunk until the future of Britain’s political leader was less and less clear.  International investors have been avoiding the pound with the cloud of uncertainty hanging over the UK and it is likely that the overall shakiness will remain until the general election takes place in early May.

Britain has actually been enjoying a rather positive week in general, with a lashing of good data announced in the trade deficit and retail sectors.  Does this mean that the economy is picking up quicker than expected?  Can Britons plan their future with a Conservative government and will the budget deficit be cleaned up under their leadership?

Tonight on British television will be a live debate between party leaders – how each performs could have a significant effect on consumer, economic and fiscal sentiment.

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