Sterling Price Drops following UK Hung Parliament
At 10 pm last night, the Pound took a major hit as exit polls pointed to a hung Parliament. Buying rates for the Euro and Dollar fell by over two cents, and Theresa May’s gamble hasn’t paid off well at all. Fortunately, the losses for Euro and Dollar buyers haven’t continued, and they seem to have leveled out considerably. While that’s great news, there’s no reason to suspect that this is the end. All of the recorded losses occurred prior to European markets being open to trade on the news, which means there might be more to come as mid-morning…
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