Pound Caught in U.K. Poll Swings Faces Worst-Case Scenario

Bloomberg ------- The pound pared an initial drop of nearly 2 percent as traders swayed to early U.K. vote results even as an exit poll projected that the ruling Conservative Party would fall short of an overall majority. Sterling fell to its lowest since April after Prime Minister Theresa May’s Conservative Party was projected to win 314 seats, short of the 326 required for a majority. Labour was projected to take 266 seats, according to the exit poll. Opinion polls had suggested a tighter race in the run-up to the vote, spurring concerns of a hung parliament and a slide in sterling. To learn more click on the picture below to read the article.