An ad-hoc announcement, a proclamation of a snap-election
on 8 Jun as well as a poll that reveals a lead in the popularity of the
UK conservative party led the GBPUSD a few big figures higher from
sub-1.25 to atop of 1.29 at one point. Price action was perhaps also
underpinned by higher growth forecast of 2% projected by IMF for this
year. The timing is favourable for May as UK has been benefitting from a
recovery in external trade.