Election fears hamper sterling gains

Investors using their personal wealth to trade on the Forex markets will have seen any potential gains in sterling hampered by continued worries over the upcoming general election today (April 14th).

According to Reuters, fears that a hung parliament could be created when voters go to the polls on May 6th have offset the benefits recent positive economic data would have brought.

Figures released this week showed the UK’s trade deficit narrowed by more than had been anticipated in February, while retail sales in the country were up by the most in a year during March.

Despite this, the British currency was largely unchanged at $1.5400 against the dollar at 08:50 BST.

’The polls are pointing to a hung parliament and maybe that’s in the price for sterling,’ the news agency quoted Stuart Bennett of Credit Agricole as saying.

All three political parties have now revealed their manifestos ahead of the election, after the Liberal Democrats announced their policies earlier today.ADNFCR-2318-ID-19720421-ADNFCR