Sterling currency exchange rate rising

Sterling has risen against the US dollar and the euro on the currency exchange markets this morning (March 29th).

The currency was trading against the dollar at $1.49 at 09:30 GMT, thought to be buoyed by a slightly more definite opinion poll ahead of the general election.

While the majority of opinion polls are still suggesting an equal running between both main parties, one poll has put the Conservatives in the lead.

It is thought that this could be to thank for the change in sterling's fortunes as traders' worries over a hung parliament may have been slightly alleviated.

Reuters reported that CMC analyst Michael Hewson said in a note to clients: "Sterling has been slightly boosted by some opinion polls at the weekend showing a slight revival in Conservative fortunes; however the over-riding fear remains that of a hung parliament and that will continue to weigh."

The currency was also trading well against the euro after rising to €1.11 today.

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Posted by Thomas Smith