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Pound pummelled after UK election result

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Published: 09/06/2017   Last Updated: 09/06/2017  
Author: by: Jamie Chisholm, Global Markets Commentator    Tags: Pound, Dollar, 2017 UK Elections, Prime Minister Theresa May, Labour

FTSE 100 gains ground as global markets shrug off political uncertainty

Friday 08:35 BST

● Pound plunges as UK election delivers hung parliament
● FTSE 100 higher as foreign currency earners gain, FTSE 250 falls
● Global markets shrug off UK and US political uncertainty
● US and European equity benchmarks firm
● Dollar rises, while “havens” like the yen and gold dip

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The pound is falling sharply after the UK election delivered a hung parliament.

Sterling is down 2 per cent to $1.2698, it is off 1.8 per cent to £0.8811 per euro, and is sliding 1.6 per cent versus the Japanese yen to change hands at ¥140.16.

The pound bounced above $1.30 in mid-May when Prime Minister Theresa May’s call for a snap election was expected to boost her... Read more