May could lose majority in UK parliament -YouGov study in The Times

Political instability has been the biggest threat to Sterling over the past few weeks with the Pound plummeting to lows below 1.15 against the Euro, more than a 4% depreciation from highs just below 1.20 at the beginning of the month.

The prospect of a hung parliament sent the pound tumbling to as low as $1.2791 in early trading, perilously close to the one-month low of $1.2775 touched at the end of last week.

YouGov research reported by The Times (https://www.thetimes.co.uk/article/latest-general-election-poll-predicts-conservatives-will-lose-seats-02zfwl8lc) showed the Conservatives might lose 20 seats in parliament, with opposition Labour Party gaining 28.

In 9 days times, Britain could be on course for a hung parliament.

Britain is heading for a hung parliament as the Conservatives lose their majority and Labour enjoys a surge of support, according to a shock projection from YouGov.

The new constituency-by-constituency modelling by the pollster YouGov - commisioned by The Times newspaper - showed on Tuesday that the Conservative party could lose 20 of the 330 seats it now holds and the opposition Labour Party could gain almost 30 seats.

The controversial analysis, released late on Tuesday, is based on a complex model and suggests Mrs May's gamble of calling a snap election in the hope of a landslide win could backfire spectacularly.

Of course if YouGov's projection is accurate it would be disastrous for Theresa May who called a snap General Election in the hope to give the Conservatives a greater majority in Parliament, and provide "stability and strong leadership" as the United Kingdom enters negotiations to leave the European Union.

YouGov's chief, Stephan Shakespeare, told the Times: "The data suggests that there is churn on all fronts, with the Conservatives, Labour and the Liberal Democrats both likely to both lose and gain seats".

The shared currency has strengthened recently as the dollar has weakened on worries that U.S. President Donald Trump may have trouble pushing through policies aimed at stimulating U.S. economic growth.

The dollar fell to near two-week low of 110.665 yen JPY= and last traded at 110.85 yen.

If this happened, the Conservatives would still be the biggest party - but they wouldn't have an overall majority.

When asked by a reporter if she would resign if she lost seats, May dodged the question on Wednesday, saying that the only poll that mattered was the election on June 8.

The poll is based on a new methodology, founded on a constituency-by-constituency selected panel of 50,000 interviews a week.

The central projection of the model, which allows for a wide margin of error, would be a catastrophic outcome for Prime Minister May.

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