The Pound has strengthened against the US dollar to trade above 1.29 over rising hopes for a victory of the Conservative Party in the upcoming general elections on December 12. At the time of writing, GBP/USD is trading at around 1.293.

The pound had weakened on Tuesday after opinion polls revealed a narrowing of the lead between Conservatives and the main opposition Labour Party. However, a recent poll by YouGov predicts a comfortable victory with a majority of 68 seats in the elections, sending the Pound higher once again.

PM Boris Johnson’s Conservative Party has been campaigning to “get Brexit done” by December 25 if it comes to power. Meanwhile, the Labour Party has pledged a second referendum on Brexit if it wins the elections and the Liberal Democrats are keen on eliminating Brexit completely.