GBP has decreased in two weeks with the backing down of the British Conservative Party


On Friday the GBP has back down against the international currencies, extending the losses for the second day respectively against the USD, to record the lowest level in two weeks after the last survey in Britain showed the conservative party and the leadership Theresa May had back down before two weeks from the parliamentary elections in from of the labor party.


 

 at 08:20 GMT  the GBP is trading at 1.2875 level from the opening price of 1.2940 after recording the highest price 1.2945 and the lowest price 1.2860 since 12 May.

 


GBP ended yesterday’s trading with the decreasing by more than 0.2% against the US dollar, as the USD recovered against most main currencies, at the same time with issuing a data from London showing a slowdown in British economic growth during the first quarter of 2017.

 


The UK economy has grown by 0.2% in the first quarter, less than the economists’ expectations of 0.3% growth, and the economy has recorded a grew by 0.6% in the fourth quarter of 2016.

 
on Thursday 

the YouGov survey said the Conservative Party won a 43%, and decreased by 1% from last week’s rate, compared with the Labor Party’s 3% rise to 38%.


 

Most the survey had expected the May party would win a big victory in the early parliamentary elections, but the party’s retreat this week was due to the cancellation of a proposal for welfare reform in the country.


 

in the last April, the British Prime Minister Theresa May invited to the early parliamentary elections on June 8 to seek political and social support in the country’s breakaway EU commissioners.

 


Since the beginning of the week, the GBP has been under negative pressure after the British government threatened to stop commissioners for the country’s break-up from the EU if the EU insists that the government pay the cost of the disengagement by about 100 billion EUR.