The Pound Tanks, As The UK Ends The Night Without A Government

Well, it’s official.

After a long night of counting, it has become clear that the Conservatives failed to secure enough votes to establish their own government. Now it’s coalition time, and though the Conservatives probably will lead, they’ll likely be weak, and not in a great position to make hard fiscal choices.

Do we hear the ratings agencies clearing their throats?

As such, the pound is tanking, hitting around $1.46.

To put that into perspective, at one point yesterday, before things went nuts, it was at $1.50.

From FinViz:

chart

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