Sterling snowballs as exit poll shows Tories win 365 seats out of 650



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Sterling snowballs as exit poll shows Tories win 365 seats out of 650

On Thursday, the 12th of December, the British currency rocketed against its American counterpart and spiked to its strongest level against euro since 2016’s Brexit referendum after an exit poll had revealed the UK PM Boris Johnson, a conservative who succeeded former PM Theresa May with a sole mandate to smoothen up Britain’s divorce from the EU, had been set for a landslide parliamentary majority, brightening up prospects of UK’s divorce from the European Union within a January 31st deadline.

Meanwhile, followed by exit poll reports that PM Johnson was well on course to achieve a majority of such scale in UK parliament that the anti-Brexiteers alongside Labours might not receive sufficient room to reject an amended Brexit referendum of PM Johnson, the sole indicator of Brexit sentiment thus far, the British currency had spiked more than 2.50 per cent in an hour to $1.3516, remarking its highest level since May 2018, while the British currency appeared to have well-poised to post its biggest intra-day against its American counterpart since January 2017.

Aside from that, sterling rose more aggressively against the euro zone currency, gaining more than 2 per cent to end up Thursday’s (December 12th) market at 82.80 pence per euro, while expressing an out-and-out optimism over further upswing momentum of the British currency alongside equities, a Global Head of Forex Strategy at UBP, Peter Kinsella said on Thursday’s (December 12th) market wrap-up, “Sterling has moved aggressively. I would anticipate we would get a decent rise in UK equities in the morning too. ”