? Sentiment towards the euro has risen according to a UK-based survey carried out by Barclays Capital/NOP Eurotrack this month.
The Barclays Capital/NOP Eurotrack Survey showed that a net 23% of respondents would vote against a government recommendation to join the euro. That was down from the net 28% who opposed entry in October.
The fall was driven by a drop in anti-euro feeling among Labour Party supporters. In our view, it is possible that they wanted to 'rally' behind the Party, in order to pre-empt a possible resurgence in the fortunes of the Conservative Opposition.
Nick Verdi, UK Economist at Barclays Capital says "In the run-up to the survey period (6-11 November), news coverage was dominated by the change of leadership in the Conservative Party. We think it is possible that Labour Party voters looked to 'rally' behind the party in response to a possible resurgence in the fortunes of the Opposition."
Barclays Capital has commissioned NOP to run a regular monthly survey on British attitudes to the euro. In November, the survey asked 1,884 adults seven euro-related questions between the 6th and 11th of the month.
Barclays Capital Eurotrack forms one element of a monthly report by Barclays Capital, which aims to help investors make decisions based on detailed information about the factors that could influence the decision on, and timing of, UK membership of the single currency.