UK Pound Getting Bludgeoned As Threat Of British Hung Parliament Looms

 

The British pound is tanking as recent opinion polls show support for the Conservative government falling. This implies that the U.K. could have its first first minority government since 1974.

 

A minority government would increase the chances for a hung parliament whereby nothing happens due to political gridlock. As our colleague Gregory White highlighted a week back, ‘A hung parliament for Britain would mean no ‘Austerity Budget,’ more market uncertainty, and a near definite credit downgrade from AAA for the country. The UK would become target number one for speculators as a result, if it isn’t already.’

Thus the pound is being slammed:
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