Britain's election drives weaker pound

Sterling fell to a five-year low of $1.4567 in April

During the 2010 general election campaign, which resulted in a hung parliament with no single party winning an overall majority, the pound fell more than seven percent in value from uncertainty as Labour and the Conservatives both negotiated a coalition with the Liberal Democrats.

The pound’s strength has grown 11% against a basket of other currencies in the last 12 months, hitting a near seven-year high in the process, reports City Index, a foreign exchange broker. However, sterling fell to a five-year low of $1.4567 in April. It is currently trading at $1.5294 and falling ahead of the May 7 general election.