General Election Analysis & Talking Points
- Boris Johnson Majority Expected by UK Exit Polls
Sterling soars to Fresh 2019 High in reaction to Conservative Win
GBP/USD has spiked higher by over 2% in reaction to the UK Exit Poll, which projects a larger than expected majority for the Conservative party of 368 seats. As such, a majority of this size will pave the way for a smooth Brexit process with Boris Johnson able to pass his deal through parliament (December 20th had been touted as a potential voting day) with ease and take the UK out of the EU at the end of January.
UK Exit Poll Projects Larger than Expected Conservative Majority
Conservatives: 368 (+50)
Labour: 191 (-71)
Lib Dems: 13 (+1)
Brexit Party: 0
SNP: 55 (+20)
Green Party: 1 (unchanged)
Other: 22
GBPUSD PRICE CHART: 1-MINUTE TIME FRAME (INTRADAY)
--- Written by Justin McQueen, Market Analyst
To contact Justin, email him at Justin.mcqueen@ig.com
Follow Justin on Twitter @JMcQueenFX
