Private wealth currency traders see sterling fall

The value of the pound has fallen during a subdued morning session of trading today (May 4th) as investors await the general election later this week.

Those using their private wealth to trade on the Forex markets have seen sterling fall in value for the third successive day, with the British currency dropping 0.1 per cent to $1.5225 at 08:00 BST, Reuters reports.

Steve Barrow of Standard Bank explained the currency market has already factored in the possibility of a hung parliament, but said it may not have anticipated all the problems that would be associated with it.

’Whether the market has anticipated the difficulty in putting together a workable and durable majority government is another matter,’ he was quoted by the news agency as saying.

According to opinion polls, it is unlikely any of the three major parties will win a large enough majority when the public goes to the polls on May 6th.

Party leaders have contested three live televised debates for the first time in history in the lead up to the election, with David Cameron seen to be the winner of the final event.ADNFCR-2318-ID-19756677-ADNFCR