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The British currency was down by approximately 0.7 per cent against its US counterpart during Forex trading by 12:00 BST, due to worries the election could result in a hung parliament, Reuters reports.
This is despite the fact the pound rose last week after a Metro/Harris poll showed the Conservative Party is expected to secure a majority.
Research conducted by the Daily Express and the Sun this week indicate the Conservatives are at least ten points ahead of Labour, but an ICM poll published in the Guardian has the lead at four points.
Brown Brothers Harriman's Audrey Childe-Freeman was quoted by Reuters as saying: "Politics [is] taking centre stage in the UK. The ICM poll has highlighted political uncertainty which is weighing on sterling today."
Earlier in the day, sterling had slipped to a session low of $1.5130
Posted by Greg Secker
