Investing.com – The pound rose slightly against the U.S. dollar on Wednesday, erasing some of its recent losses as an opinion poll showed support for the Liberal Democrat party waning ahead of Thursday's general election.
GBP/USD gained 0.1% to hit 1.5158 during early European trade, after clawing back up from the 1-month low it hit on Tuesday at 1.509. Cable was likely to find at 1.5523, the high of April 15, and support at 1.4974, the low of March 30.
Wednesday's YouGov/Sun poll put the Tories unchanged on 35%, Labour up two points on 30% and the Liberal Democrats down four points on 24%. The pound has been hurt in recent weeks amid growing uncertainty over the results of the upcoming vote in the wake of a surge in support for the Lib Dems, who have made a two-horse race into a three-way contest.
Sterling also jumped to an 8-month high versus the euro, meanwhile, with GBP/EUR slumping 0.28% to hit 0.8551, its lowest since August last year.
Later in the day, the market research firm Markit was set to publish a report on Britain's construction sector. The payroll processing firm ADP was also due on Wednesday to publish key data on U.S. nonfarm employment change.
GBP/USD gained 0.1% to hit 1.5158 during early European trade, after clawing back up from the 1-month low it hit on Tuesday at 1.509. Cable was likely to find at 1.5523, the high of April 15, and support at 1.4974, the low of March 30.
Wednesday's YouGov/Sun poll put the Tories unchanged on 35%, Labour up two points on 30% and the Liberal Democrats down four points on 24%. The pound has been hurt in recent weeks amid growing uncertainty over the results of the upcoming vote in the wake of a surge in support for the Lib Dems, who have made a two-horse race into a three-way contest.
Sterling also jumped to an 8-month high versus the euro, meanwhile, with GBP/EUR slumping 0.28% to hit 0.8551, its lowest since August last year.
Later in the day, the market research firm Markit was set to publish a report on Britain's construction sector. The payroll processing firm ADP was also due on Wednesday to publish key data on U.S. nonfarm employment change.