For the first time in seven weeks, the British pound climbed above $1.52 on Monday as a British survey showed Conservatives got six-point lead ahead of Labour party 10 days before general elections.
The pool, financed by a Conservative fellow and former deputy party chair Michael Ashcroft, the Conservatives garnered 36%, while Labour got 30%.
The pound was also bolstered by a bringing forward of projections on the timing of interest rate hikes, with investors now betting a rate increase early next year.
Sterling climbed about 0.4% on the day, closing at $1.5244 from $1.5183. Against the euro, the currency rose 0.1% at 71.555 British pence.
Traditionally, the Conservatives are more favored in the market “and supply-side reform, which would be positive for growth in the UK,” said Lee Hardman, Currency Economist at Bank of Tokyo-Mitsubishi UFJ.
Meanwhile, investors will await UK gross domestic product due Tuesday.
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