A hastily-arranged General Election in the United Kingdom - that was seen as a foregone conclusion - has suddenly sprung into life with polls tightening and some market analysts speaking about outcomes that would have been inconceivable just weeks ago.
But new figures from YouGov for The Times claim that the Conservatives could fall 16 seats short of an overall majority. Though the narrowing of the May lead has resulted in some currency strategists keeping a closer watch on popular opinion in the days ahead many still have expectations of a landslide win for the Conservatives.
Such a result on June 9 would be catastrophic for May, who called for the snap election back in April, arguing the United Kingdom needed certainty, stability and strong leadership in Brexit negotiations with the EU.
The Survation poll found just over half of the 1,009 respondents thought May would make the best prime minister, whilst support for Labour's Jeremy Corbyn stood at just 30 percent, albeit higher than in previous surveys.
They showed Theresa May's party might lose 20 of the 330 seats it holds, with Jeremy Corbyn's Labour gaining almost 30 seats.
The model is based on 50,000 interviews over a week, with voters from a panel brought together by YouGov.
He added: "This has been the general pattern of general elections for an age, and whether you believe our poll findings or those of others will depend on whether or not you think Jeremy Corbyn can actually buck that trend". The Liberal Democrats-the only major party that has said Brexit may not mean Brexit, instead calling for another referendum on any eventual deal to leave the EU-have struggled to gain traction.
She said the prospect of a hung parliament remained unlikely, but would have the potential to rock markets.
What can not go up, must go down. the YouGov poll already sent GBP/USD back down under 1.28.
Ms. May's manifesto was branded the "most disastrous manifesto in recent history", by the editorial of the Evening Standard, a London weekday newspaper edited by former Chancellor George Osborne. It recovered ground early Wednesday, trading broadly flat at 1.28 against the dollar and up 0.1% against the euro at 1.14.
If the projection is right, it would be a disaster for the Prime Minister. But the Conservatives confirmed that interior minister Amber Rudd would represent the party as planned at the BBC hustings. While not completely discounting it, Brooks did say she would take this report "with a pinch of salt". "Debates where the politicians are squabbling among themselves doesn't do anything for the process of electioneering". We'll also hear from two Fed policy makers - Robert Kaplan and John Williams - with only two weeks to go until its next meeting.