UK exit polls deal a blow to sterling

FT/Katie Martin & Robin Wigglesworth/06-08-17

The exit polls are in. They suggest the Conservatives are on track to win 314 seats, with 266 to Labour and 14 to the Liberal Democrats. That means the Tories are shy of a majority, and we are heading for a hung parliament.

Sterling has taken a heavy blow, falling 1.4 per cent on the day to $1.2719 at just past 5pm in New York, which would be its biggest one-day drop since early October.

PG View: Gold is nonplussed, trading little changed from where it spent much of the day.

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