May 31, 2017 / 8:13 AM / 8 months ago

Sterling weakens after new poll shows slim Tory lead

(Reuters) - Sterling weakened against the dollar late Wednesday after a new poll found that British Prime Minister Theresa May’s Conservative Party’s lead over rival Labour was just 3 points with just over a week to go before a national election.

Sterling edged about 0.12 percent lower against the greenback after details of the YouGov poll were published by the Times late Wednesday. It last traded at $1.2873 vs $1.2892 before the news crossed.

The British currency has been whipsawed by a series of polls that suggest May’s once-commanding lead over Labour has shrunk dramatically as the June 8 election draws near.

Wednesday’s poll indicated Conservatives held an advantage of 42 percent versus 39 percent for Labour. On Tuesday, a separate YouGov poll suggested that the election could result in a hung parliament.

Reporting by Dan Burns; Editing by Jonathan Oatis

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