LONDON: The British pound bounced back on Wednesday ahead of a UK general election, even though a fresh poll predicted Prime Minister Boris Johnson's ruling Conservatives would win a much smaller majority than previously forecast.
A key poll released late on Tuesday showed Johnson's lead over veteran socialist Jeremy Corbyn's Labour party ebbing away. The YouGov opinion poll said the Tories would win Thursday's vote, with a majority of 28 seats, sharply down from the 68 forecast in a similar study at the end of November.Sterling has surged in recent weeks - sitting at an eight-month high against the greenback and a two-and-a-half-year peak against the euro - on expectations Johnson would win a big enough majority to push through his Brexit deal.
Negotiators are still trying to hammer out a mini agreement and the mood on trading floors remains upbeat, while most observers are confident the two sides will reach a deal, which has fed a global equities rally for weeks.
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