May plays down election loss poll

May plays down election loss poll

May plays down election loss poll

British Prime Minister Theresa May's Conservative Party risks falling short of winning an overall majority of seats in parliament in a national election on 8 June, The Times newspaper said on Tuesday, quoting research by polling firm YouGov.

According to worldwide internet-based market research firm YouGov, Theresa May's Conservative Party could miss out on an overall majority in Parliament by 16 seats following the General Election on June 8th.

The latest model has been met with scepticism by both the Tories and Labour. It was now trading at $1.2842., down 0.1%, compared with late Tuesday in NY.

The Tories' lead has been slashed in the latest poll putting Prime Minister Theresa May just three points ahead of Jeremy Corbyn.

Opinion polls predicted a hung parliament in 2015, however, Ed Miliband's Labour party suffered a significant loss to David Cameron's Conservative Party.

Sterling GBPUSD, -0.1322% has steadily moved lower in recent days as polls started to show the Conservative's expected landslide victory was in jeopardy after the party's manifesto, published earlier in May, sparked voter anger.

"The near-term risks to sterling remain heavily tilted to the downside", Samuel Tombs, chief United Kingdom economist at Pantheon Macroeconomics, said in a research note on Tuesday.

Stefan Shakespeare, CEO of YouGov said that it would only take a small shift in favor of the Conservatives to see them win a healthy majority in the general election.

United Kingdom had general elections in 2015 when the Conservative party came into power with a tiny majority in parliament and David Cameron became prime minister.

That prompted a sell-off of sterling by currency traders, who generally dislike hung parliaments as they threaten economic uncertainty and compromise policy-making. Mrs May's hopes of a large majority may now turn on how many of them make the same choice this time around. May's Conservative party holds a majority of seats in the United Kingdom parliament, which means fixed election laws dictate an election isn't required until 2020.

The result allows for a wide margin of error and the pollster acknowledged that its predictions would be controversial. May and her team have been promoting the idea that Jeremy Corbyn is closer to becoming prime minister than other polls suggest he is, and this reminder of how "close" the election is may well help her narrative.

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