Sterling falls after hung parliament confirmed in shock General Election result

PM Theresa May loses seats

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Theresa May did not win a majority, despite having more seats than Labour. Photo: Stefan Rousseau/PA Wire/PA Images
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Theresa May did not win a majority, despite having more seats than Labour. Photo: Stefan Rousseau/PA Wire/PA Images

The pound has fallen by more than 2% and investors are more concerned about market uncertainty than ever as the UK government enters a hung parliament following yesterday's snap General Election.

Investors are expecting a volatile day for both sterling and UK shares after the election resulted in a hung parliament, a scenario the markets did not anticipate. The pound fell sharply after exit polls were announced and throughout the night, now standing 2.4% lower at $1.2651 as at 7.45am.  UK General Elections blog: How will markets react to hung parliament? Prime Minister Theresa May's Conservative party lost its majority, down by 12 seats to a total of 315 seats, while Jeremy Corbyn's Labour party surprised with a climb of 29 seats to 261. At the time of writing, there are...

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