LONDON May 31 Option market bets on weakness in
Britain's pound reached their highest in more than two months on
Wednesday after an overnight shock to the exchange rate from a
poll showing the ruling Conservatives falling short of a
majority in next week's election.
The 1-month sterling-dollar risk reversal - a measure of the
balance of bets for more weakness of the currency in the next
month over those for more gains - was quoted at around -0.8, its
most negative since March 15 .
Offered rates for the contract were as low as -1.013, the
lowest since Feb. 10.
(Writing by Patrick Graham, editing by Nigel Stephenson)