GBPUSD offered a tepid immediate response to the first televised debate of the current UK election campaign. The historic exchange between Boris Johnson and Jeremy Corbyn offered scarce fresh insights, with the snap poll following the debate suggesting that there was no clear winner.

With Sterling’s latest assault on the 1.30 level versus the US Dollar falling short yet again, the currency pair had moderated in the hours leading up to the debate, before settling in the lower 1.29 range for the time being. The Pound has come off its strongest level against the Euro in six months, only to post slight gains versus the bloc currency during the debate.

Ultimately, investors will relate the outcome of the December 12 polls to the UK’s ambitions of leaving the European Union. Should a path to a surer and speedier Brexit become clearer over the next three weeks, that could translate into GBPUSD emulating its year-to-date high around 1.34. In the meantime, expect the Pound to remain primarily swayed by the political nuances during this campaigning period.


Disclaimer: The content in this article comprises personal opinions and should not be construed as containing personal and/or other investment advice and/or an offer of and/or solicitation for any transactions in financial instruments and/or a guarantee and/or prediction of future performance. ForexTime (FXTM), its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness, of any information or data made available and assume no liability as to any loss arising from any investment based on the same.