Pound rises on poll showing a jump for the conservatives
The pop in the pound is being attributed to the Ashcroft poll showing the Conservatives gaining two points to 36% from the last poll. The rise has come from a change in opinion on the other parties as Labour remains unchanged at 30%
Skipping over the bells and whistles of the poll, what is more important is the reaction that we've seen. I noted this morning that election volatility hadn't kicked in yet but it looks like it's kicking in now
Greg's noted the moves in cable and it has come on the back of some dollar weakness too.
Looking at EURGBP is more telling as it lost around 15 pips from 0.7160
The poll doesn't change the expected outcome but it's a sign that we may get some wild swings in the quid on poll headlines. Just another reminder to keep it in mind