It's Not Over Until It's Over
Opinion polls move markets. Sometimes they are right, in predicting election outcomes. Sometimes they are wrong. For example, biases or errors in the selection of the sample size limit the usefulness of opinion polls as a predictive tool.
This is why at Heritage Pay, we are treating the current rush of wildly different results of the opinion polls, of the upcoming UK election, with a healthy dose of skepticism - despite the fortunes of sterling seemingly being heavily influenced by these polls.
On Tuesday, two opinion polls by Kantor and ICM revealed a narrowing of the gap between Labour and the Conservatives. Sterling dropped as a result. The following day, a YouGov poll showed a much stronger lead for Boris Johnson, than had been previously predicted and Sterling jumped to a fresh 6-month high.
It isn't over until it's over!
To discuss how the above may affect your money transfer requirements, please contact your Currency Dealer at Heritage Pay on +44 (0) 203 858 7274.
See you next week!