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The Sterling fell after a YouGov poll showed a narrowing lead for UK Prime Minister over her rival ahead of the elections slated next month.
The pound was the worst performing currency among its major peers today, falling 0.5 percent at $1.2884 during the afternoon Asian trade. The decline adds to the 0.2 percent decline in the previous day and pulls it further away from its May 18 peak of $1.3048, the British currency's strongest level since September 2016.
In an indication that the June 8 election race could be tighter than initially anticipated the poll published showed that the opposition Labour Party has narrowed the lead of May's Conservative party down to five points.
The pound has been shored up by projections of a landslide election win for May would solidify her control over inflexible Brexiteers in her majority party and enable her to negotiate a smoother exit from the European Union.
However, such assumption has been questioned by recent opinion polls that indicated a decline in the Conservatives' popularity among voters and put the pressure on the pound.
