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UK political campaign, debates are all heating up as we move to the final week of campaign. Election to be held on 7th May, Thursday.
- Latest poll shows that Labour party leader ED Milliband is gaining popularity among swing voters and young stars. ED Milliband's latest approach to dealt with his criticism and flaws and even sometimes laughing it off might be doing the trick.
- Mr. Milliband has often been criticized with lack of polished image and sophistication, at one campaign he said that he can never compete with major opponent Mr. David Cameron's sophisticated and polished image and he has no intention to do such. He is there to provide the people with something new.
- In his latest campaign, unveiled a stone structure, where his electoral promises are curved, showing his promises are not just words and he intend to keep them. Mr. Milliband is even planning to place the stone on the garden of Prime Minister's office.
Pound's impact on Milliband's rise -
- Mr. Milliband has clearly said that there would be no coalition with Scottish National Party (SNP) pre or post-election, which would mean that he might move to form a minority government which would need support from other parties in some case might even from conservatives to pass policies.
This fragility would be an issue for UK as well as pound.
GBP/USD has produced a bearish inverted hammer candle in weekly chart, which could be a pre cursor to further fall in Pound. Pound is currently trading at 1.513 against dollar, with 1.55 as hammer high.
USD has NFP report scheduled later this week, so if traders are looking to avoid USD, EUR/GBP and GBP/JPY could be other pairs to consider. GBP/AUD could be an attractive pair, should RBA holds rate steady at tomorrow's policy meeting.
