GBP/AUD: Pounded Edges Up as Johnson Extends Lead in Polls

GBP/AUD is recovering Friday losses, with the pound being driven by increased hopes that UK Prime Minister Boris Johnson’s Conservative Party will win the election scheduled for this Thursday.

Currently, the pair is trading at 1.9283, up 0.34% as of 5:35 AM UTC. On Friday, the pair posted a 0.22% decline, though it has been mostly bullish since December 3.

The sterling is rallying after several polls show that the Tories will win the election by a margin. A recent YouGov poll showed that Johnson’s party extended its lead over the opposition Labour Party to 10 points. Thus, support for the Conservative rose to 43% from 42%, while Labour remained unchanged at 33%. YouGov surveyed 1,680 people on Thursday and Friday.

Elsewhere, a survey carried out by Deltapoll, whose results were published yesterday by the Mail, showed that the Conservatives had an 11-point lead over the Labour Party. Thus, Johnson’s party was on 44%, down from 45%, while the Labour was up one percentage point to 33%. The anti-Brexit Liberal Democrat Party declined four points to 11%.

According to a poll by Opinium, published on Saturday in The Observer newspaper, the Conservatives maintained its 15-point lead over the Labour Party. Thus, Johnson’s party came at 46% and Labour was on 31%, both unchanged from a previous Opinium poll published a week ago. Opinium polled 2,003 people between Wednesday and Friday. The survey found that 53% of respondents expected Johnson to remain as PM, and 55% believed Labour’s campaign failed.

A BMG poll published by the Independent newspaper showed that the Tories had widened their lead to nine points from six. Thus, Johnson’s party was at 41%, up from 39%, while the Labour fell one point to 32%. The Brexit Party was unchanged at 4% while the Liberal Democrats added one point to 14%. BMG polled 1,542 people online between Wednesday and Friday.

Nevertheless, the Conservatives’ lead narrowed in the last few weeks. When asked if he worried about it, Johnson said:

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