UK elections: Poll shows only 6% Conservatives/Labour gap – GBP/USD negative

A poll by Survation has shown the narrowest gap yet between the ruling Conservative Party and opposition Labour. The survey, conducted between November 6-8, is showing an increase of three points for the left-wing challengers to 29% and a minor rise of one point for the Tories to 35%.  

Voters are moving into mainstream parties and out of the staunchly pro-Remain Liberal Democrats and the Brexit Party, which both shed 2 points. It is important to note that Survations fieldwork came before Nigel Farage’s withdrawal of more than half the candidates.

The leader of the right-wing outfit wants to raise the chances that Prime Minister Boris Johnson is returned to Downing Street. His announcement sent sterling higher, but his refusal to drop out of marginal seats has kept cable from extending its gains.

The gap of only six points is the lowest in any poll so far and is adverse for GBP/USD. Investors prefer a solid majority for Johnson that would allow him to ratify the Brexit accord and enact maket-friendly policies. The pound has yet to respond to the new poll.