Rolling coverage of the latest economic and financial news, as the Conservative party extends its lead over Labour to 14 points
- Introduction: Sterling hits €1.19
- Survation poll give solid Tory lead
- Pound hits $1.318 against US dollar – a seven-month high
- Politics Live: Labour sets out plan for first 100 days in office
Labour’s shadow chancellor, John McDonnell, has denied that the pound would plunge if his party forms the next government.
My fear is that the pound will start to go up because of our investment plans.
Back to the pound…. and Adam Cole of Royal Bank of Canada points out that sterling has already largely priced in a Tory victory.
That means there might not be much of a rally if Johnson wins a majority….and quite a tumble if he doesn’t.