Never miss a story from Ilya Spivak

Subscribe to receive daily updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from DailyFX and IG about trading opportunities and their products and services via email.

Please fill out this field.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo

You are subscribed to Ilya Spivak

You can manage your subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

The British Pound pushed aggressively higher after an exit poll from the BBC following the UK general election saw Prime Minister David Cameron’s Conservative party in the lead with 316 seats. The Labour party trailed with 239 seats. SNP secured 58 sets, the Liberal Democrats picked up 10, while UKIP and the Green parties walked away with 2 seats apiece.

Critically, this is an initial poll result and outcomes may evolve as votes are tallied. Indeed, a separate tally (initially attributed to YouGov on the newswires, though the polling company has insisted it was a "re-contact survey" and not an "exit poll") suggests a slightly different allocation, albeit with Mr Cameron still in the lead (Conservatives: 284, Labour: 263, LibDems: 31, SNP: 48, UKIP: 2, PLAID: 3, Green: 1).

The Pound’s response to the outcome likely reflects the withdrawal of uncertainty risk associated with the election. A coalition government dominated by the Conservatives and led by David Cameron represents the status quo, allowing investors to re-focus on monetary policy considerations without worrying about what a potential about-face on the fiscal side might have meant.

Pound Soars as Exit Polls Shows Conservatives Led in UK Election

5min Chart - Created Using FXCM Marketscope

--- Written by Ilya Spivak, Currency Strategist for

To receive Ilya's analysis directly via email, please SIGN UP HERE

Contact and follow Ilya on Twitter: @IlyaSpivak