It seems that just as the parties want to stoke up the fears of a hung parliament, the markets themselves are becoming more sanguine about the issue. The speculative positions in the market, which were heavily betting on the Pound weakening over the election period, have slowly been drawn back in over the last four weeks, even as the prospects of a hung parliament look ever more likely. If the polls stay balanced up to the election next week, then it may test the relaxed stance of some investors…
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It’s taken a multinational event to take the election campaign off the front pages, and although the news media are focused on the travel problems caused by the volcanic ash, it is the news from the US about the accusations of fraud committed by Goldman Sachs which has caused ripples in the market.