GBP/NOK: Sterling Holds Steady Against Krone as Markets Await UK’s Exit Poll at 10PM

It’s election day in the UK. The pound held steady against the Norwegian krone during the Asian session as markets were in wait-and-see mode, awaiting the election results on who’ll move to 10 Downing Street.

Two main options are on the table — Will Johnson’s Conservatives win a majority and deliver on their Brexit promises? Or will Labour leader Corbyn persuade voters with his radical agenda of nationalization and a second Brexit referendum?

Most polls showed that Johnson’s lead over Corbyn has steadily melted down in recent weeks. According to the latest YouGov survey, Johnson’s results were slashed by half compared with the same survey just two weeks ago when the results signaled a majority of 68 seats. Everything from a hung Parliament to a Tory landslide remains within the margin of error.

The Conservatives need 326 out of 650 seats for a majority in the House of Commons. The YouGov opinion poll released yesterday suggested Johnson’s party will win 339 seats.

Meanwhile, the Royal Institution of Chartered Surveyors reported another decline in the stock of UK rental properties.

The report released Thursday showed that the uncertainty around Brexit is having a negative effect on the housing market, with the price index falling to the lowest level since April. New buyer enquiries fell for the third straight month and the headline RICS price index came in at -12% in November, well below the -5% forecast.

For krone traders, there are no market reports of note coming from Norway today. Even though energy prices are slightly up, election headlines will likely be the main driver for the GBP/NOK pair today.

The pair has been in a steady uptrend since the beginning of November, reaching multi-year highs on Tuesday on prospects of a Conservative majority. The pound seems well supported above the 11.97 support zone, but profit-taking activities or election surprises may lead to unexpected volatility in the pair. As of 7:00 a.m. London time, the pair traded at 12.0250. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.